{"id":469099,"date":"2021-03-31T16:27:27","date_gmt":"2021-03-31T20:27:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469099"},"modified":"2021-03-31T16:27:27","modified_gmt":"2021-03-31T20:27:27","slug":"plug-reminder-kessler-topaz-meltzer-check-llp-deadline-reminder-for-plug-power-inc-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/plug-reminder-kessler-topaz-meltzer-check-llp-deadline-reminder-for-plug-power-inc-investors\/","title":{"rendered":"PLUG Reminder: Kessler Topaz Meltzer & Check, LLP – Deadline Reminder for Plug Power, Inc. Investors"},"content":{"rendered":"
\n

RADNOR, Pa., March 31, 2021 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Plug Power Inc. (NASDAQ: PLUG) (\u201cPlug\u201d) on behalf of those who purchased or acquired Plug securities between November 9, 2020 and March 1, 2021<\/em><\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n

\n
\n Investor Deadline Reminder: Investors who purchased or acquired Plug securities<\/em>
\n <\/strong>
\n
\n during the Class Period may, <\/em>
\n <\/strong>
\n
\n
\n no later than May 7, 2021<\/u>
\n <\/em>
\n <\/strong>
\n
\n , seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at<\/em>
\n <\/strong>
\n info@ktmc.com<\/a>; or<\/strong>click <\/em><\/strong>https:\/\/www.ktmc.com\/plug-power-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=Plug_Power<\/a><\/p>\n

Plug provides comprehensive hydrogen fuel cell turnkey solutions focused on systems used to power electric motors in the electric mobility and stationary power markets.<\/p>\n

The Class Period commences on November 9, 2020, when Plug filed its quarterly report on a Form 10-Q for the period ended September 30, 2020. Regarding Plug\u2019s disclosure controls and internal control over financial reporting, the report stated, in relevant part that Plug\u2019s \u201cdisclosure controls and procedures are effective \u2026 [and that] [t]here were no changes in [Plug\u2019s] internal control over financial reporting that occurred during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, [Plug\u2019s] internal control over financial reporting.\u201d<\/p>\n

The truth regarding Plug\u2019s weaknesses in its internal control over financial reporting was revealed on March 2, 2021 when, before the market opened, Plug filed a Notification of Late Filing with the U.S. Securities and Exchange Commission stating that it could not timely file its annual report for the period ended December 31, 2020 because Plug 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 Plug 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<\/p>\n

Following this news, Plug\u2019s stock price fell $3.68, or 7%, to close at $48.78 per share on March 2, 2021. Plug\u2019s 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.<\/p>\n

The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) Plug 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) Plug was reasonably likely to report material weaknesses in its internal control over financial reporting; and (3) as a result of the foregoing, the defendants\u2019 positive statements about Plug\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n

Plug investors may, no later than May 7, 2021<\/u><\/em><\/strong>, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member.\u00a0 A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.\u00a0 In order to be appointed as a lead plaintiff, the Court must determine that the class member\u2019s claim is typical of the claims of other class members, and that the class member will adequately represent the class.\u00a0 Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.<\/p>\n

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. \u00a0The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).\u00a0 The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com<\/a>.<\/p>\n

CONTACT:<\/p>\n

Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
info@ktmc.com<\/a><\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

RADNOR, Pa., March 31, 2021 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Plug Power Inc. (NASDAQ: PLUG) (\u201cPlug\u201d) on behalf of those who purchased or acquired Plug securities between November 9, 2020 and March 1, 2021, inclusive (the \u201cClass Period\u201d). Investor Deadline Reminder: Investors who purchased or acquired Plug securities during the Class Period may, no later than May 7, 2021 , seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact … <\/p>\n

Continue reading “PLUG Reminder: Kessler Topaz Meltzer & Check, LLP – Deadline Reminder for Plug Power, Inc. 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-469099","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPLUG Reminder: Kessler Topaz Meltzer & Check, LLP - Deadline Reminder for Plug Power, Inc. 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(NASDAQ: PLUG) (\u201cPlug\u201d) on behalf of those who purchased or acquired Plug securities between November 9, 2020 and March 1, 2021, inclusive (the \u201cClass Period\u201d). Investor Deadline Reminder: Investors who purchased or acquired Plug securities during the Class Period may, no later than May 7, 2021 , seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact … Continue reading "PLUG Reminder: Kessler Topaz Meltzer & Check, LLP – Deadline Reminder for Plug Power, Inc. 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