SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Plug Power Inc. - PLUG

NEW YORK, March 3, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Plug Power Inc. ("Plug Power" or the "Company")(NASDAQ: PLUG).  Such investors are advised to contact Robert S. Willoughby at  [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Plug Power and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On February 25, 2021, Plug Power issued a press release announcing its fourth quarter and full year 2020 financial results.  For the quarter, Plug Power announced GAAP earnings per share of -$1.12, missing estimates by $1.01, and revenue of -$0.32 million, missing estimates by $85.31 million.  The Company stated that its "[r]evenue and results were negatively impacted by certain costs of $456M recorded in Q4, the majority being non-cash charges related to the accelerated vesting of a customer's remaining warrants."  

On this news, Plug Power's stock price fell $6.82 per share, or 13.6%, to close at $43.34 per share on February 25, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected] 
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP