Plug Power Investors Encouraged to Contact Kirby McInerney LLP By April 3, 2026

Lawsuit alleges Plug Power materially overstated likelihood of DOE loan funds and plans for hydrogen production facilities

Mar. 19, 2026 at 12:03am

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Kirby McInerney LLP is encouraging investors who suffered losses on their Plug Power investments between January 17, 2025 and November 13, 2025 to contact the firm by April 3, 2026 to discuss a securities fraud class action lawsuit. The lawsuit alleges that Plug Power misled investors about the likelihood of receiving DOE loan funds and its plans for hydrogen production facilities.

Why it matters

The lawsuit could result in financial recoveries for Plug Power investors who lost money during the class period. It also raises questions about Plug Power's transparency and accountability to shareholders regarding its business plans and use of government funding.

The details

The lawsuit alleges that Plug Power (1) materially overstated the likelihood that funds from a DOE loan would become available, and (2) misled investors about its plans to construct hydrogen production facilities necessary to receive those funds. In October 2025, Plug Power announced the departures of its CEO and President, and an agreement to immediately exercise outstanding warrants for $370 million. In November 2025, Plug Power reported plans to monetize electricity rights and suspend activities under the DOE loan program, causing its stock price to decline.

  • The class period is January 17, 2025 through November 13, 2025.
  • Investors have until April 3, 2026 to apply to be lead plaintiff in the lawsuit.
  • Plug Power announced executive departures on October 7, 2025.
  • Plug Power announced a warrant exercise agreement on October 8, 2025.
  • Plug Power reported Q3 2025 results and suspended DOE loan program activities on November 10, 2025.

The players

Plug Power, Inc.

A publicly-traded company that develops and sells hydrogen fuel cell systems.

Andrew Marsh

Former Chief Executive Officer of Plug Power.

Sanjay Shrestha

Former President of Plug Power.

Jose Luis Crespo

Chief Revenue Officer of Plug Power, appointed to CEO and President roles.

Kirby McInerney LLP

A New York-based plaintiffs' law firm concentrating in securities litigation.

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What they’re saying

“If you suffered a loss on your investment in Plug Power, Inc. ('Plug Power' or the 'Company') (NASDAQ:PLUG), contact Lauren Molinaro by email at investigations@kmllp.com, or fill out the contact form below to discuss your rights or interests in the securities fraud class action lawsuit at no cost.”

— Lauren Molinaro, Attorney, Kirby McInerney LLP

What’s next

The judge in the case will decide on April 3, 2026 whether to allow the lawsuit to proceed as a class action.

The takeaway

This lawsuit highlights the importance of transparency and accountability for publicly-traded companies when it comes to their use of government funding and communication with investors about their business plans and prospects.