{"id":457807,"date":"2021-03-15T11:03:14","date_gmt":"2021-03-15T15:03:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=457807"},"modified":"2021-03-15T11:03:14","modified_gmt":"2021-03-15T15:03:14","slug":"glancy-prongay-murray-llp-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\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-plug-power-inc-plug\/","title":{"rendered":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. (PLUG)"},"content":{"rendered":"

<\/p>\n

Glancy Prongay & Murray LLP 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

LOS ANGELES–(BUSINESS WIRE<\/a>)–Glancy Prongay & Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming May 7, 2021 <\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who 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).\n<\/p>\n

\nIf you suffered a loss on your Plug investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/plug-power-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a> to learn more about your rights.\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 LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.\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 request appointment as lead plaintiff in this putative class action lawsuit. 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 the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.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\/20210315005137\/en\/<\/a><\/span><\/p>\n

\nGlancy Prongay & Murray LLP, Los Angeles
\n
Charles Linehan, 310-201-9150 or 888-773-9224
\n
shareholders@glancylaw.com
\n<\/a>
www.glancylaw.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":"

Glancy Prongay & Murray LLP 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 LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming May 7, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who 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). If you suffered a loss on your Plug investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can … <\/p>\n

Continue reading “Glancy Prongay & Murray LLP 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-457807","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGlancy Prongay & Murray LLP 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 LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming May 7, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who 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). If you suffered a loss on your Plug investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can … Continue reading "Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. 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