Plug Power, Inc. (NASDAQ: PLUG)

This lawsuit is for anyone who acquired securities in Plug Power, Inc. (NASDAQ: PLUG) from January 17, 2025 through November 13, 2025.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by materially overstating the likelihood that funds attributed to the DOE Loan would ultimately become available to Plug Power, and/or that Plug Power would ultimately construct the hydrogen production facilities necessary to receive those funds.

On October 7, 2025, Plug Power announced that its Chief Executive Officer and its President were both stepping down from their roles.  On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on November 10, 2025, announced that the Company had signed a nonbinding letter of intent to monetize its electricity rights in New York and one other location in partnership with a major U.S. data center developer, and that “[a]s a result, [the Company had] suspended activities under the DOE loan program, allowing [it] to redeploy capital”. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Finally, on November 13, 2025, The Washington Examiner reported that Plug Power “confirmed . . . that it suspended activities” on “its plans to construct six facilities to produce and liquefy zero or low-carbon hydrogen, putting at risk” the $1.66 billion DOE Loan it closed in January. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Plug Power, Inc. (NASDAQ: PLUG) from January 17, 2025 through November 13, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.