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Hagens Berman Issues Alert for FuelCell Energy Investors

Hagens Berman Sobol Shapiro LLP, a prominent national trial law firm, has issued an alert aimed at investors in FuelCell Energy, Inc. (NASDAQ: FCEL), concerning a significant securities class action. This lawsuit centers on serious allegations that FuelCell's executives potentially misled investors regarding the company's operational capabilities and financial performance. The firm reminds investors that they have until November 10, 2026, to seek appointment as lead plaintiffs in this case.

Background of the Case

This class action focuses on events that transpired between June 24, 2026, and September 1, 2026, a period during which investors were allegedly misled about FuelCell’s manufacturing capacity and financial prognosis. The lawsuit contends that the company's CEO, Jason B. Few, and CFO, Michael S. Bishop, made materially false statements about critical operational aspects, including the production volumes and costs related to a major contract with Fit Energy USA LP.

On June 24, 2026, FuelCell announced a high-stakes Capital Equipment Purchase Agreement (CEPA) for providing fuel cell block systems for data centers, generating an influx of enthusiasm among investors. As a direct consequence of this excitement, FuelCell conducted an enormous public stock offering, selling over 12 million shares at $21 per share and raking in approximately $245.5 million in net proceeds.

However, the complaint alleges that the truth behind FuelCell's operational failures began to emerge when the company reported its fiscal third-quarter earnings on September 2, 2026. This report revealed a staggering net loss of $45.3 million, driven largely by unforeseen production costs associated with the CEPA. Investors were taken aback to learn that the company’s actual manufacturing capabilities were insufficient to fulfill the contract’s demands, resulting in grave financial implications.

Who Can Participate?

Investors who purchased FuelCell securities during the specified Class Period should scrutinize their financial losses. If you are among this group and believe you suffered significant damages, you may qualify to become a lead plaintiff. The Private Securities Litigation Reform Act provides a pathway for investors to formally join the lawsuit without having to sell their shares.

To participate, investors are encouraged to take action promptly and submit their financial losses to Hagens Berman. The firm is closely monitoring the situation and can provide guidance on the legal steps necessary for eligibility.

Investigative Focus

According to Reed Kathrein, a partner at Hagens Berman leading the investigation, the crux of the case rests on whether FuelCell misrepresented its actual manufacturing capabilities. The following key issues are under scrutiny:

• - Operational Shortcomings: FuelCell’s actual production output was inadequate to meet contract obligations, causing a rise in product costs.
• - Financial Mismanagement: Statements made by executives did not align with the grim financial data that eventually became public knowledge.
• - Liabilities Accumulation: The company was facing multi-million-dollar charges tied to the Fit Energy agreement which severely impacted its profitability.

Hagens Berman also encourages whistleblowers with non-public information related to the case to come forward. Under the SEC Whistleblower program, individuals providing original insights could receive rewards of up to 30% of any recovery made by the SEC.

About Hagens Berman

Founded and headquartered in San Francisco, Hagens Berman is a law firm known for its dedication to holding corporations accountable for wrongdoing. With over $2.9 billion recovered for clients across various cases, their expertise spans across investor rights as well as employee and consumer advocacy. For more information about this case or to discuss your legal rights, investors can visit www.hbsslaw.com/fcel or reach out to Hagens Berman via emails or phone at 844-916-0895.