{"id":453774,"date":"2021-03-09T09:03:23","date_gmt":"2021-03-09T14:03:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=453774"},"modified":"2021-03-09T09:03:23","modified_gmt":"2021-03-09T14:03:23","slug":"the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-plug-power-inc-plug-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-plug-power-inc-plug-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Plug Power Inc. (PLUG) Investors"},"content":{"rendered":"

<\/p>\n

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Plug Power Inc. (PLUG) Investors<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–The Law Offices of Frank R. Cruz<\/a> announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Plug Power Inc. (\u201cPlug\u201d or the \u201cCompany\u201d) (NASDAQ: PLUG<\/a>) securities between November 9, 2020 and March 1, 2021<\/b>, inclusive (the \u201cClass Period\u201d). Plug investors have until May 7, 2021 <\/b>to file a lead plaintiff motion.\n<\/p>\n

\nIf you are a shareholder who suffered a loss, click here<\/a> to participate.\n<\/p>\n

\nOn March 2, 2021, before the market opened, Plug filed a Notification of Late Filing with the SEC stating that it could not timely file its annual report for the period ended December 31, 2020 because the Company was completing a \u201creview and assessment of the treatment of certain costs with regards to classification between Research and Development versus Costs of Goods Sold, the recoverability of right of use assets associated with certain leases, and certain internal controls over these and other areas.\u201d The Company stated that \u201c[i]t is possible that one or more of these items may result in charges or adjustments to current and\/or prior period financial statements.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $3.68, or 7%, to close at $48.78 per share on March 2, 2021, on unusually heavy trading volume. The share price continued to decline by $9.48, or 19.4%, over three consecutive trading sessions to close at $39.30 per share on March 5, 2021, on unusually heavy trading volume.\n<\/p>\n

\nThe complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company would be unable to timely file its 2020 annual report due to delays related to the review of classification of certain costs and the recoverability of the right to use assets with certain leases; (2) that the Company was reasonably likely to report material weaknesses in its internal control over financial reporting; and (3) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nFollow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.\n<\/p>\n

\nIf you purchased Plug securities during the Class Period, you may move the Court no later than May 7, 2021 <\/b>to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Plug securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210309005440\/en\/<\/a><\/span><\/p>\n

\nThe Law Offices of Frank R. Cruz, Los Angeles
\n
Frank R. Cruz, 310-914-5007
\n
fcruz@frankcruzlaw.com
\n<\/a>
www.frankcruzlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Plug Power Inc. (PLUG) Investors LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Plug Power Inc. (\u201cPlug\u201d or the \u201cCompany\u201d) (NASDAQ: PLUG) securities between November 9, 2020 and March 1, 2021, inclusive (the \u201cClass Period\u201d). Plug investors have until May 7, 2021 to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On March 2, 2021, before the market opened, Plug filed a Notification of Late Filing with the SEC stating that … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Plug Power Inc. (PLUG) Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-453774","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Plug Power Inc. 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