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Hagens Berman Invites FuelCell Energy Investors to Take Action

In a significant legal development, the renowned national trial law firm Hagens Berman is reaching out to investors of FuelCell Energy, Inc. (NASDAQ: FCEL) who have incurred substantial financial losses. A securities class action lawsuit has recently been filed, and the firm encourages those affected to act promptly, as the deadline to apply for lead plaintiff status is set for November 10, 2026.

The class action covers a specific period from June 24, 2026, to September 1, 2026. Investors who acquired FuelCell securities during this timeframe and suffered noteworthy losses are eligible to participate in the legal proceedings. The firm emphasizes the importance of joining this class action for those impacted, and potential plaintiffs can submit their losses by visiting the firm's dedicated webpage or contacting them directly via email or phone.

Background of the Case

The lawsuit stems from allegations against FuelCell Energy and several high-ranking executives, including CEO Jason B. Few and CFO Michael S. Bishop, for potentially breaching the Securities Exchange Act of 1934. The suit claims that the defendants made materially false and misleading statements about the company’s manufacturing capabilities, production economics, and a key commercial agreement with Fit Energy USA LP.

On June 24, 2026, FuelCell announced a significant Capital Equipment Purchase Agreement (CEPA), under which the company agreed to provide carbonate fuel cell block systems for up to 380 megawatts of clean, baseload power for data centers. Initially starting with a 30 MW phase, this agreement created a wave of market enthusiasm. To capitalize on this momentum, FuelCell completed a public offering of over 12 million shares at $21 each, raising approximately $245.5 million.

Unfortunately, the lawsuit contends that the company failed to reveal critical operational shortcomings. Specifically, it claims that:

• - FuelCell's actual manufacturing capacity was not sufficient to meet the production rates needed for the Fit Energy CEPA.
• - As a result of lagging production volumes, product costs and manufacturing overhead exceeded the pricing laid out in the contract, leading to significant gross losses.
• - The company was tracking multi-million-dollar expenses tied to the agreement's initial phase, jeopardizing its quarterly profitability.

The situation came to a head on September 2, 2026, when FuelCell reported a shocking net loss of $45.3 million for the fiscal third quarter of 2026, along with a significant increase in gross losses due to charges recorded for the CEPA’s Phase 0. Following the disclosure of these distressing financial results, the stock price of FuelCell saw a substantial decline of nearly 16% in just one trading session, causing severe damage to shareholders' financial standings.

What Investors Should Know

For investors of FuelCell who purchased securities between June 24, 2026, and September 1, 2026, there is a chance to join the ongoing lawsuit as a lead plaintiff. The Private Securities Litigation Reform Act of 1995 allows investors who have incurred financial damages to seek lead plaintiff status without the need to sell their shares.

Reed Kathrein, the Hagens Berman partner in charge of this case, reiterated the firm’s commitment to uncover whether FuelCell misled its investors regarding its actual manufacturing capabilities.

Additionally, potential whistleblowers with pertinent non-public information investigating FuelCell are encouraged tostep forward. Informants may benefit from the SEC Whistleblower program, potentially earning rewards of up to 30% of any successful recovery by the SEC. Individuals with information about the case can contact Reed Kathrein directly for confidentiality.

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About Hagens Berman

Hagens Berman is a prominent plaintiffs' rights law firm with a strong focus on corporate accountability. The firm is dedicated to representing not only investors but also whistleblowers, consumers, and employees affected by corporate misdeeds. With a proven track record of securing over $2.9 billion for those harmed by corporate negligence, Hagens Berman remains at the forefront of advocating for the rights of its clients.

For more information about the firm and its various services, visit hbsslaw.com or follow Hagens Berman for updates on social media at @ClassActionLaw.