According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- Plug Power overstated its ability and/or efforts to mitigate the negative impacts that, inter alia, supply chain constraints and material shortages could have or were having on Plug Power’s hydrogen business, as well as the sufficiency of its cash and capital to fund its operations;
- Plug Power continued to experience delays related to its green hydrogen production facility build-out plans, as well as in securing external funding sources to finance its growth plans;
- Plug Power downplayed the true scope and severity of all the foregoing when these issues were eventually revealed;
- as a result of all the foregoing, Plug Power also overstated the near-term prospects of its hydrogen production operations, as well as the viability of expanding those operations; and
- as a result, Plug Power’s public statements were materially false and misleading at all relevant times.
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