Plug Power Investors Encouraged to Contact Law Firm by April 3

Kirby McInerney LLP investigating securities fraud claims against Plug Power, Inc.

Mar. 19, 2026 at 1:10am

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Kirby McInerney LLP is investigating a securities fraud class action lawsuit on behalf of investors who purchased Plug Power, Inc. (NASDAQ:PLUG) securities between January 17, 2025 and November 13, 2025. The lawsuit alleges that Plug Power materially overstated the likelihood of receiving DOE Loan funds and was likely to pivot toward more modest projects with less commercial upside.

Why it matters

This case could have significant financial implications for Plug Power investors who suffered losses during the class period. The lawsuit aims to hold the company accountable for allegedly misleading investors about its financial prospects and the availability of government funding.

The details

The lawsuit alleges that Plug Power (i) had materially overstated the likelihood that funds attributed to the DOE Loan would ultimately become available, and/or that Plug Power would ultimately construct the hydrogen production facilities necessary to receive those funds, and (ii) was likely to pivot toward more modest projects with less commercial upside. This led to a series of stock price declines in October and November 2025 as the company announced executive departures, a warrant exercise agreement, and the suspension of DOE loan program activities.

  • On October 7, 2025, Plug Power announced CEO and President departures.
  • On October 8, 2025, Plug Power announced a warrant exercise agreement yielding $370 million.
  • On November 10, 2025, Plug Power reported Q3 2025 results and suspended DOE loan program activities.
  • On November 13, 2025, Plug Power confirmed it had suspended plans for DOE-funded hydrogen production facilities.

The players

Plug Power, Inc.

A publicly-traded company that develops and sells hydrogen fuel cell systems for electric mobility and stationary power markets.

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, antitrust, whistleblower, and consumer 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

What’s next

Investors have until April 3, 2026 to ask the Court to appoint them as lead plaintiff in the class action lawsuit against Plug Power.

The takeaway

This case highlights the importance of transparency and accurate financial reporting by public companies. Investors who suffered losses due to Plug Power's alleged misrepresentations may be able to recover damages through the class action lawsuit.