FuelCell Energy, Inc. Class Action Lawsuit - FCEL
Case Summary
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The FuelCell class action lawsuit seeks to represent purchasers or acquirers of FuelCell Energy, Inc. (NASDAQ: FCEL) securities between June 24, 2026 and September 1, 2026, inclusive (the “Class Period”). Captioned Nguyen v. FuelCell Energy, Inc., No. 26-cv-07953 (S.D.N.Y.), the FuelCell class action lawsuit charges FuelCell and certain of FuelCell’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the FuelCell class action lawsuit, please provide your information in the form on this page. You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the FuelCell class action lawsuit must be filed with the court no later than November 10, 2026.
CASE ALLEGATIONS: FuelCell, together with its subsidiaries, engages in the design, development, production, construction, operation, and servicing of high temperature fuel cells for clean electric power generation. On June 24, 2026, FuelCell allegedly announced a capital equipment purchase agreement with Fit Energy USA LP for up to 380 MW of fuel cell power for data centers, with an initial committed 30 MW phase including an immediate deposit.
The FuelCell class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) FuelCell’s manufacturing capacity was inadequate to generate the production rate required under the capital equipment purchase agreement; (ii) as a result, FuelCell’s annualized production rate for deliveries under the capital equipment purchase agreement with Fit Energy was slower than expected; (iii) as a result, FuelCell was incurring higher product costs and manufacturing overhead expenses; (iv) as a result of the slower production rate, FuelCell was reasonably likely to incur charges in connection with the capital equipment purchase agreement; (v) that the foregoing was a known trend affecting FuelCell’s profitability; and (vi) as a result of the foregoing, defendants’ positive statements about FuelCell’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On September 2, 2026, before the market opened, FuelCell reported its fiscal third quarter 2026 financial results, allegedly reporting a net loss of $45.3 million that reflected “a higher gross loss than the prior year period,” which was caused by “product costs and manufacturing overhead that currently exceed the contractual pricing established under the CEPA with Fit Energy.” The complaint further alleges that FuelCell reported that the annualized production rate was “below the production volume at which we expect our cost structure to align with market-based pricing for orders of this scale,” and as a result, FuelCell recorded a $17 million charge to “reflect the impact of contractual pricing provisions associated with specific inventory and firm purchase commitments” arising from the initial committed 30 MW phase of the capital equipment purchase agreement. On this news, the price of FuelCell shares fell nearly 16%, according to the complaint.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.