NasdaqCM:PLUGElectrical
Plug Power Expands Share Capacity As Lawsuits Raise Investor Risk Questions
Plug Power (NasdaqCM:PLUG) shareholders have approved a proposal to double the company’s authorized common stock, expanding its capacity to issue new shares without an immediate reverse stock split.
At the same time, multiple class action lawsuits claim Plug Power misled investors about its U.S. Department of Energy loan prospects and the viability of large scale hydrogen projects, following executive turnover and a shift in business focus.
Plug Power’s shares recently closed at $1.86, with...