RADNOR, Pa., April 20, 2023 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that the company has filed a Securities Class Action against Plug Power Inc. (“Plug”) on behalf of investors who have purchased or acquired Plug PLUG common stock in between August 9, 2022 and March 1, 2023, inclusive (the “Class Period”). This action, titled Melton v. Plug Power Inc., et al.Case No. 1:23-cv-00409-MN was filed in the United States District Court for the District of Delaware and is pending before the Honorable Maryellen Noreika.

Important Deadline Reminder: Investors who purchased or otherwise acquired Plug common stock during the class action period have no later than June 12, 2023 to summon the court to be lead plaintiff in the class action.

CLICK HERE TO SUBMIT YOUR PLUG LOSSES. YOU CAN ALSO CLICK OR COPY AND PASTE THE FOLLOWING LINK INTO YOUR BROWSER: https://www.ktmc.com/new-cases/plug-power-inc-2023?utm_source=PR&utm_medium=link&utm_campaign=plug&mktm=r

TO WATCH OUR VIDEO PLEASE CLICK HERE

LIMIT FOR THE PLAINTIFF: JUNE 12, 2023

COURSE PERIOD: AUGUST 9, 2022 TO MARCH 1, 2023

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
Jonathan Naji, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email to info@ktmc.com

MISBEHAVIOR OF PLUG
On August 9, 2022, Plug reported its second quarter 2022 financial results, assuring investors that the company has a “strong business outlook” and touting a $15 billion sales funnel. Defendants also emphasized that Plug’s supply chain is strong – with the Chief Executive Officer stating that he “foresees no supply chain issues this year” – and that Plug’s rapidly expanding inventory is simply due to significant growth, that Plug would experience in the second half of 2022. Consistent with these representations, defendants projected that Plug would generate revenue of between $900 million and $925 million in 2022, representing approximately 80% year-over-year growth .

But just a few months later…