Plug Power faces US lawsuit

April 18, 2023

US hydrogen electrolyser and fuel cell maker Plug Power is facing a class action lawsuit from shareholders who claim they were misled about its financial prospects.

The action follows allegations that the company misled investors over the strength of its order pipeline and its likely 2022 revenue figure in its second-quarter results presentation in August 2022, which led to investors reporting losses in March 2023.

We have approached Plug Power for comment.

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