Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Plug Power (PLUG) To Contact Him Directly To Discuss Their Options

If you purchased or acquired Plug Power securities between January 17, 2025 and November 13, 2025 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Fortunato directly at (212) 355-4648.

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NEW YORK, Feb. 05, 2026 (GLOBE NEWSWIRE) --

What’s Happening:

• Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Plug Power Inc. (“Plug Power” or the “Company”) (NASDAQ: PLUG) in the United States District Court for the Northern District of New York on behalf of all persons and entities who purchased or otherwise acquired Plug Power securities between January 17, 2025 and November 13, 2025, both dates inclusive (the “Class Period”). Investors have until April 3, 2026, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
  

Allegation Details:

• The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendants had materially overstated the likelihood that funds attributed to the DOE Loan would ultimately become available to Plug Power, and/or that Plug Power would ultimately construct the hydrogen production facilities necessary to receive those funds; (ii) as such, Plug Power was likely to pivot toward more modest projects with less commercial upside; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
  
• On October 7, 2025, Plug Power issued a press release and filed a current report on Form 8-K with the United States Securities and Exchange Commission (“SEC”) announcing that Defendant Andrew Marsh would step down from his role as the Company’s Chief Executive Officer, “effective as of the date [Plug Power] files its [2025] Annual Report”, and that Sanjay Shrestha would step down from his role as the Company’s President, “effective as of October 10, 2025[.]” Plug Power concurrently announced the appointment of Chief Revenue Officer Jose Luis Crespo to both roles. The abrupt departure of two key executives just one month before the expected issuance of Plug Power’s financial and operating results for the third quarter plainly did not bode well for the Company.
  
• On this news, Plug Power’s stock price fell $0.26 per share, or 6.29%, to close at $3.87 per share later that day.
  
• Then, on November 10, 2025, Plug Power issued a press release reporting its financial results for the quarter ended September 30, 2025, and filed a quarterly report on Form 10-Q with the SEC that reported the same. That same day, Plug Power held a related conference call to discuss those results. During the call, Defendants announced that they expected to generate more than $275 million in liquidity after signing a nonbinding letter of intent to monetize their electricity rights in New York and one other location in partnership with a major U.S. data center developer, and that “[a]s a result, we have suspended activities under the DOE loan program, allowing us to redeploy capital”. This represented a significant pivot for Plug Power. Defendants had not previously discussed the possibility of suspending activities under the DOE Loan and during the Class Period, and, just eight months earlier, had specifically advised analysts that they should “not expect revenue from that segment [i.e., data center power generation] of any size over the next two to three years”.
  
• On this news, Plug Power’s stock price fell $0.09 per share, or 3.39%, to close at $2.53 per share on November 11, 2025.
  
• Then, during market hours on November 13, 2025, The Washington Examiner reported that Plug Power “confirmed . . . that it suspended activities” on “its plans to construct six facilities to produce and liquefy zero or low-carbon hydrogen, putting at risk” the $1.66 billion DOE Loan it closed in January.
  
• On this news, Plug Power’s stock price fell $0.48 per share, or 17.58%, over the following two trading sessions, to close at $2.25 per share on November 14, 2025.
  

Next Steps:

• If you purchased or otherwise acquired Plug Power shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
  

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities,derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

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Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.

Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com