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Top related persons:
The Latham - 1 J.P - 1 Morgan - 1 Bill Peterson - 1 Tanay - 1 Maju Samuel - 1 Jim Bourg - 1 Latham - 1
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2 mentions found


☆ Plug Power shares dive on raising going concern doubts
  + stars: | 2023-11-10 | by ( ) www.reuters.com   time to read: +2 min
Nov 10 (Reuters) - Shares of Plug Power (PLUG.O) plunged nearly 30% in premarket trading on Friday after the hydrogen fuelcell maker raised going concern doubts. Plug has been facing liquidity issues and has lost more than half of its market capitalization since the start of the year. Its annual financial performance has also been impacted by "unprecedented" supply challenges in the hydrogen network in North America. The Latham, New York-based Plug said cash and equivalents at the end on Sept. 30 stood at $110.8 million. Plug on Thursday also reported a bigger loss for the three months ended Sept. 30 and its revenue of $198.7 million widely missed estimate of $228.2 million, according to LSEG data.
Persons: The Latham, J.P, Morgan, Bill Peterson, Tanay, Maju Samuel Organizations: U.S . Department Of Energy, Thomson Locations: North America, New York, Bengaluru
☆ Plug Power settles with SEC, wins dismissal of lawsuit
  + stars: | 2023-08-30 | by ( Jonathan Stempel | ) www.reuters.com   time to read: +2 min
The SEC said Plug Power raised more than $5 billion from investors despite the shortcomings. Plug Power did not admit or deny wrongdoing in agreeing to settle. In a related development, U.S. District Judge Edgardo Ramos in Manhattan on Tuesday night dismissed a lawsuit accusing Plug Power of defrauding shareholders, including over a transaction with Amazon.com (AMZN.O), one of its largest customers. Plug Power provides fuel cells for electrically powered forklifts used by companies such as Amazon and Walmart (WMT.N). Plug Power did not immediately respond to requests for comment.
Persons: Jim Bourg, Latham, financials, Edgardo Ramos, Jonathan Stempel, Jonathan Oatis Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, U.S, Securities, District, Walmart, Thomson Locations: Washington, Latham , New York, U.S, Manhattan, New York
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