{"id":470994,"date":"2021-04-05T13:33:33","date_gmt":"2021-04-05T17:33:33","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470994"},"modified":"2021-04-05T13:33:33","modified_gmt":"2021-04-05T17:33:33","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-plug-power-inc-plug-2","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-2\/","title":{"rendered":"Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Plug Power Inc. (PLUG)"},"content":{"rendered":"
\n

Shareholders with $250,000 losses or more are encouraged to contact the firm<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n LOS ANGELES<\/span>, April 5, 2021<\/span> \/PRNewswire\/ — Glancy Prongay<\/span> & Murray LLP<\/a> (“GPM”) reminds investors of the upcoming\u00a0May 7<\/span>, 2021\u00a0<\/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. (“Plug” or the “Company”) (NASDAQ: PLUG) securities between November 9, 2020<\/span> and March 1, 2021<\/span><\/b>, inclusive (the “Class Period”).<\/p>\n

\n

\n
\n \"(PRNewsfoto\/Glancy
\n <\/a>\n <\/p>\n<\/p><\/div>\n

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 submit your contact information at https:\/\/www.glancylaw.com\/cases\/plug-power-inc\/<\/a>. You can also contact Charles H. Linehan<\/span>, 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.<\/p>\n

On March 2, 2021<\/span>, 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<\/span> because the Company was completing a “review 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.” The Company stated that “[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.”<\/p>\n

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

The 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’s 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’ positive statements about the Company’s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n

Follow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.<\/p>\n

If you purchased or otherwise acquired Plug securities\u00a0during the Class Period, you may move the Court no later than\u00a0May 7, 2021<\/span><\/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\u00a0learn more\u00a0about 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<\/span>, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California<\/span> 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>.\u00a0 If you inquire by email please include your mailing address, telephone number and number of shares purchased. <\/p>\n

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

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/glancy-prongay–murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-plug-power-inc–plug-301261573.html<\/a><\/p>\n

SOURCE Glancy Prongay<\/span> & Murray LLP<\/p>\n<\/p><\/div>\n

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

Shareholders with $250,000 losses or more are encouraged to contact the firm PR Newswire LOS ANGELES, April 5, 2021 \/PRNewswire\/ — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming\u00a0May 7, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Plug Power Inc. (“Plug” or the “Company”) (NASDAQ: PLUG) securities between November 9, 2020 and March 1, 2021, inclusive (the “Class Period”). 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 submit your contact information at https:\/\/www.glancylaw.com\/cases\/plug-power-inc\/. You can also contact Charles H. Linehan, of GPM … <\/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-470994","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) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Shareholders with $250,000 losses or more are encouraged to contact the firm PR Newswire LOS ANGELES, April 5, 2021 \/PRNewswire\/ — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming\u00a0May 7, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Plug Power Inc. (“Plug” or the “Company”) (NASDAQ: PLUG) securities between November 9, 2020 and March 1, 2021, inclusive (the “Class Period”). 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 submit your contact information at https:\/\/www.glancylaw.com\/cases\/plug-power-inc\/. You can also contact Charles H. 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