{"id":454316,"date":"2021-03-09T17:53:19","date_gmt":"2021-03-09T22:53:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=454316"},"modified":"2021-03-09T17:53:19","modified_gmt":"2021-03-09T22:53:19","slug":"investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-against-plug-power-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-against-plug-power-inc\/","title":{"rendered":"INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Plug Power Inc."},"content":{"rendered":"

<\/p>\n

INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Plug Power Inc.<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe law firm of Kirby McInerney LLP<\/a> announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Plug Power Inc. (\u201cPlug\u201d or the \u201cCompany\u201d) (NASDAQ: PLUG<\/a>) securities from November 9, 2020 through March 1, 2021, inclusive (the \u201cClass Period\u201d). Investors have until May 7, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\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 by $3.68, or approximately 7%, to close at $48.78 per share on March 2, 2021, on unusually heavy trading volume. The share price declined by $9.48, or approximately 19.4%, over the next three consecutive trading sessions to close at $39.30 per share on March 5, 2021.\n<\/p>\n

\nThe complaint filed in this lawsuit 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

\nIf you purchased or otherwise acquired Plug securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod<\/a> of Kirby McInerney LLP<\/a> at 212-371-6600, by email at investigations@kmllp.com<\/a>, or by filling out this contact form<\/a>, to discuss your rights or interests with respect to these matters without any cost to you.\n<\/p>\n

Kirby McInerney LLP<\/a> is a New York-based plaintiffs\u2019 law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm\u2019s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP\u2019s website: http:\/\/www.kmllp.com<\/a>.\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\/20210309006064\/en\/<\/a><\/span><\/p>\n

\nKirby McInerney LLP
\n
Thomas W. Elrod, Esq.
\n
212-371-6600
\n
https:\/\/www.kmllp.com
\n<\/a>
investigations@kmllp.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America New York<\/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":"

INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Plug Power Inc. NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Plug Power Inc. (\u201cPlug\u201d or the \u201cCompany\u201d) (NASDAQ: PLUG) securities from November 9, 2020 through March 1, 2021, inclusive (the \u201cClass Period\u201d). Investors have until May 7, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. On March 2, 2021, before the market opened, Plug filed a Notification of Late Filing with the SEC stating that it could not … <\/p>\n

Continue reading “INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Plug Power Inc.”<\/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-454316","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Plug Power Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-against-plug-power-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Plug Power Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Plug Power Inc. NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Plug Power Inc. (\u201cPlug\u201d or the \u201cCompany\u201d) (NASDAQ: PLUG) securities from November 9, 2020 through March 1, 2021, inclusive (the \u201cClass Period\u201d). Investors have until May 7, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. 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