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Robbins LLP Informs Investors About Class Action Against Plug Power Inc.

Robbins LLP has recently made headlines by reminding stockholders of a class action lawsuit filed against Plug Power Inc. This lawsuit revolves around allegations that the company provided misleading information regarding its ability to secure and utilize a significant loan guarantee from the U.S. Department of Energy (DOE). The class action is on behalf of all investors who purchased or otherwise acquired Plug Power securities between January 17, 2025, and November 13, 2025.

Overview of Plug Power Inc.

Plug Power Inc. is well-known for delivering hydrogen fuel cell solutions catered to electric mobility and stationary power markets across North America and Europe. They offer a range of services including hydrogen storage, production equipment, and the construction of hydrogen production facilities. The allegations in the class action focus on the company's claims about a $1.66 billion loan guarantee they stated they had secured from the DOE to finance several projects.

The Allegations

On January 16, 2025, Plug Power announced what it termed a “closed” agreement with the DOE for a loan guarantee aimed at financing the construction of up to six facilities designed to produce and liquefy zero or low-carbon hydrogen. They highlighted the first project would be a green hydrogen plant located in Graham, Texas. However, the class action lawsuit suggests that the company significantly overstated the likelihood of the loan funds being available to them and downplayed the possibility that they would actually construct the necessary hydrogen production facilities.

Several revelations followed that led to a drop in the company's stock price. Notably, on November 10, 2025, Plug Power disclosed in a press release its financial results and announced a shift in strategy to more modest projects, which included suspending activities under the DOE loan program. This announcement resulted in an immediate decline of 3.39% in their stock price.

Two days later, The Washington Examiner reported that Plug Power confirmed it had halted plans to construct the six hydrogen facilities, jeopardizing the funding agreement it had touted earlier. This revelation precipitated another significant stock market decrease of 17.58% within just two trading sessions, underscoring the disenchantment among investors who felt misled by the company’s earlier assurances.

What Should Investors Do?

Current or potential shareholders of Plug Power Inc. are encouraged to participate in the class action against the company. For those interested in being the lead plaintiff, it’s imperative that legal documents are filed with the court by April 3, 2026. While leading plaintiffs do play an active role in directing the litigation, it's noteworthy that investors can still remain as absent class members and benefit from the case's outcome without direct involvement.

Robbins LLP has reiterated that all representation related to this class action is on a contingency fee basis. This means shareholders will not incur any fees unless there is a successful recovery, thereby alleviating financial stress during this process.

About Robbins LLP

Established in 2002, Robbins LLP has cultivated a reputation as a leader in shareholder rights litigation. The firm focuses on aiding shareholders in reclaiming losses, promoting better corporate governance, and ensuring accountability among corporate executives accused of misconduct. They remain vigilant in keeping shareholders informed about ongoing actions that could affect their investments.

To stay updated on the outcomes of the class action or if a settlement occurs, investors can sign up for notifications through Stock Watch, a service offered by Robbins LLP. This will provide timely information on the status of the lawsuit and any further developments that could concern Plug Power shareholders.

In light of these events unfolding at Plug Power Inc., it’s critical for investors to remain vigilant and assess their position regarding the class action to safeguard their interests effectively.