Philadelphia, Pennsylvania--(Newsfile Corp. - September 15, 2026) - Berger Montague, a leading national plaintiffs' law firm, announces that a class action lawsuit has been filed against FuelCell Energy, Inc. (NASDAQ: FCEL) ("FuelCell Energy" or the "Company") on behalf of investors who purchased or acquired FuelCell Energy securities during the period from June 24, 2026 through September 1, 2026 (the "Class Period"). The deadline to apply for lead plaintiff is November 10, 2026.

Q&A

What is this lawsuit about?
The complaint filed in this class action 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) the Company's manufacturing capacity was inadequate to generate the production rate required under its capital equipment purchase agreement ("CEPA") with Fit Energy USA LP ("Fit Energy"); (2) the Company's annualized production rate for deliveries under the CEPA with Fit Energy was slower than expected; (3) the Company was incurring higher product costs and manufacturing overhead expenses; (4) as a result of the slower production rate, the Company was reasonably likely to incur charges in connection with the CEPA.

On September 2, 2026, before the market opened, FuelCell reported its fiscal third quarter 2026 financial results, reporting a net loss of $45.3 million. According to the Company's press release, this reflected a higher gross loss than the prior year period, which was caused by product costs and manufacturing overhead that currently exceed the contractual pricing established under the CEPA with Fit Energy. Further, FuelCell reported that the annualized production rate was below the production volume at which it expects its cost structure to align with market-based pricing for orders of this scale, and as a result, the Company recorded a $17 million charge to reflect the impact of contractual pricing provisions associated with specific inventory and firm purchase commitments arising from Phase 0 of the CEPA.

On this news, FuelCell shares fell $2.68, or 15.69%, to close at $14.40 per share on September 2, 2026, thereby injuring investors.

Who is FuelCell Energy?
FuelCell Energy, headquartered in Danbury, Conn., is a global energy company that designs, manufactures, undertakes project development, installs, operates, and maintains megawatt-scale fuel cell systems.

What do I need to do?

Investor Deadline: Investors who purchased or acquired FuelCell Energy securities during the Class Period may, no later than November 10, 2026, seek to be appointed as a lead plaintiff representative of the class.

If you are a FuelCell Energy investor and would like to learn more about this action, or to discuss your rights, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bergermontague.com or (215) 875-3015 or Caitlin Adorni at cadorni@bergermontague.com or (267) 764-4865 or visit our website.

About Berger Montague

Berger Montague is one of the nation's preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314352

Source: Berger Montague