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Plug Power Faces Securities Class Action Over DOE Loan Disclosures and Leadership Turmoil
Plug Power Inc. is facing a new securities class action lawsuit alleging the company and its executives misled investors regarding a $1.66 billion U.S. Department of Energy loan guarantee. The lawsuit claims Plug overstated the likelihood of receiving the funds and building related hydrogen facilities, leading to sharp share-price declines after the departure of its CEO and President and the suspension of activities under the DOE loan program. Investors have until April 3, 2026, to seek lead-plaintiff status.