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Berman Tabacco Investigates Securities Claims in Connection with Plug Power Inc.'s (PLUG) January 2021 Public Offering
March 22, 2021 3:13 PM EDT | Source: Berman Tabacco
Boston, Massachusetts--(Newsfile Corp. - March 22, 2021) - Berman Tabacco, a national law firm representing investors, is investigating potential violations of the federal securities laws by Plug Power Inc. ("Plug" or the "Company") (NASDAQ: PLUG), a maker of hydrogen fuel cells.
On January 26, 2021, Plug announced that it would be commencing a registered public offering of 28,000,000 shares of common stock at $65 per share for proceeds of $1.5 billion with an option granted to the underwriter to purchase up to $225,000,000 of additional common stock (the "January 2021 Public Offering").
On March 16, 2021, Plug announced, among other things, that certain "Prior Period Financial Statements need to be restated due to errors in accounting primarily related to several non-cash items."
A class action has been filed in the United States District Court for the Southern District of New York in a case captioned Beverly v. Plug Power Inc., et al., No. 1:21-cv-02004 ("Beverly Lawsuit") on behalf of persons and entities that purchased or otherwise acquired the Company's securities between November 9, 2020 and March 1, 2021, inclusive (the "Class Period"). The class action alleges claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The lead plaintiff deadline is May 7, 2021.
The Beverly Lawsuit does not allege claims under the Securities Act of 1933 in connection with the January 2021 Public Offering.
If you purchased Plug common shares in the January 2021 Public Offering and would like more information regarding this investigation, or if you wish simply to share information about the investigation, please visit: http://www.bermantabacco.com/case/plug-power-inc/.
Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate and board misconduct and violations of the securities and antitrust laws. The firm has offices in Boston, Massachusetts and San Francisco, California.
This notice may constitute attorney advertising.
Contact:
Jay Eng, Esq.
(800) 516-9926
Email: law@bermantabacco.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78203