BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Bloom Energy Corporation (“Bloom Energy” or the “Company”) (NYSE: BE) investors concerning the Company and its officers’ possible violations of federal securities laws.
In July 2018, Bloom Energy completed its initial public offering (“IPO”), issuing approximately 18 million shares of common stock priced at $15 per share. On November 5, 2018, Bloom Energy revealed that it had only delivered 206 system deployments (i.e., “acceptances”) for third quarter 2018, significantly below its previously-issued guidance of 215 to 235 acceptances. For fourth quarter 2018, the Company expected only 225 to 275 acceptances, well below the more than 300 acceptances that analysts expected.
On this news, the Company’s share price fell $5.76 per share, more than 25%, to close at $17.25 per share on November 6, 2018, thereby injuring investors. Since the IPO, Bloom Energy's stock has traded as low as $9.21 per share, significantly below the $15 offering price.
If you purchased Bloom Energy securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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