{"id":456138,"date":"2021-03-11T11:03:10","date_gmt":"2021-03-11T16:03:10","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456138"},"modified":"2021-03-11T11:03:10","modified_gmt":"2021-03-11T16:03:10","slug":"deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-plug-power-inc-plug","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-plug-power-inc-plug\/","title":{"rendered":"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. (PLUG)"},"content":{"rendered":"

<\/p>\n

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. (PLUG)<\/b><\/p>\n

Shareholders with $100,000 losses or more are encouraged to contact the firm<\/i><\/b><\/p>\n

BENSALEM, Pa.–(BUSINESS WIRE<\/a>)–
\nLaw Offices of Howard G. Smith reminds investors of the upcoming May 7, 2021 <\/b>deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased 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).\n<\/p>\n

\nInvestors suffering losses on their Plug investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com<\/a>.\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

\nIf you purchased or otherwise acquired 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 if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com<\/a>, or visit our website at www.howardsmithlaw.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\/20210311005315\/en\/<\/a><\/span><\/p>\n

\nLaw Offices of Howard G. Smith
\n
Howard G. Smith, Esquire
\n
215-638-4847
\n
888-638-4847
\n
howardsmith@howardsmithlaw.com
\n<\/a>
www.howardsmithlaw.com<\/a><\/p>\n

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

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

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. (PLUG) Shareholders with $100,000 losses or more are encouraged to contact the firm BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith reminds investors of the upcoming May 7, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased 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). Investors suffering losses on their Plug investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 … <\/p>\n

Continue reading “Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. (PLUG)”<\/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-456138","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nDeadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. 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(PLUG) Shareholders with $100,000 losses or more are encouraged to contact the firm BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith reminds investors of the upcoming May 7, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased 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). Investors suffering losses on their Plug investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 … Continue reading "Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. 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