RADNOR, Pa.–(BUSINESS WIRE)–The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of Plug Power Inc. (“Plug Power”) (NASDAQ: PLUG).
Plug Power is a fuel cell company that designs, manufactures and delivers on-site energy products. Its products are focused around a platform-based systems architecture, which includes proton exchange membrane fuel cell and fuel processing technologies.
On February 25, 2021, Plug Power issued a press release announcing its fourth quarter and full year 2020 financial results. For the quarter, Plug Power announced GAAP earnings per share of -$1.12, missing estimates by $1.01, and revenue of -$0.32 million, missing estimates by $85.31 million. Plug Power stated in its press release that its “[r]evenue and results were negatively impacted by certain costs of $456M recorded in Q4, the majority being non-cash charges related to the accelerated vesting of a customer’s remaining warrants.”
Following this news, Plug Power’s stock price fell $6.82 per share, or 13.6%, to close at $43.34 per share on February 25, 2021.
If you are a Plug Power investor and would like to learn more about our investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at firstname.lastname@example.org; or please visit the following link to fill out our online form https://www.ktmc.com/new-cases/plug-power-inc?utm_source=PR&utm_medium=link&utm_campaign=Plug_Power.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.