LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Bloom Energy Corporation (“Bloom Energy” or “the Company”) (NYSE: BE) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased Bloom securities pursuant and/or traceable to Bloom’s Registration Statement issued in connection with the Company’s July 2018 initial public offering (the “IPO”), or purchased shares of Bloom between July 26, 2018 and September 16, 2019 (the “Class Period”), are encouraged to contact the firm before January 3, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Bloom’s clean energy technology actually produces emissions comparable to a natural gas plant employing modern technology. The Company’s estimates on the service life of its products including fuel cells were wildly inaccurate. In fact, the Company utilized misleading accounting techniques to mask future servicing expenses to extend this service life. This resulted in undisclosed servicing liabilities of up to $2.2 billion. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Bloom, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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