Recent Security Class Actions
FuelCell Energy Inc. Common Stock (NASDAQ: FCEL)
49 Days left to seek lead plaintiff status.
The complaint 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 that: (1) that the Company’s manufacturing capacity was inadequate to generate the production rate required under the capital equipment purchase agreement (“CEPA”); (2) that, as a result, the Company’s annualized production rate for deliveries under the CEPA with Fit Energy USA LP was slower than expected; (3) that, as a result, the Company was incurring higher product costs and manufacturing overhead expenses; (4) that, as a result of the slower production rate, the Company was reasonably likely to incur charges in connection with the CEPA; (5) that the foregoing was a known trend affecting the Company’s profitability; and (6) 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.
