Investor Alert: Kaplan Fox Investigates FuelCell Energy, Inc. For Potential Securities Fraud

NEW YORK, Oct. 6, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors who purchased shares of FuelCell Energy, Inc. ("FuelCell Energy" or the "Company") (NASDAQ: FCEL), a manufacturer of fuel cell power plants for electric power generation.

In 2017, FuelCell Energy reportedly won three significant contract awards from PSEG Long Island worth up to $800 million in future revenue potential over the life of the contracts.

On October 2, 2020, FuelCell Energy closed a secondary public offering of stock by selling about 50 million shares of common stock at $2.10 per share.

Then, on October 5, 2020, Night Market Research published a short report alleging that FuelCell Energy "appears to have lost two of its largest generation contract awards valued at approximately $636mn of future revenue and equivalent to ~100% of its current operating portfolio."  According to the report, two of the three PSEG Long Island contracts were cancelled earlier this year.

Following this news, FuelCell Energy's shares fell 6.44% to close at $1.89 per share on October 5, 2020.

If you purchased FuelCell Energy common stock or other securities and would like to discuss our investigation, please contact us by emailing [email protected] or by calling 646-315-9003. 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about your rights or interests, please contact:

Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
(212) 687-1980
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: [email protected]

SOURCE Kaplan Fox & Kilsheimer LLP

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