FuelCell Energy Securities Class Action Filed
A securities class action has been filed against FuelCell Energy, Inc. (“FuelCell” or the “Company”) (NASDAQ: FCEL) and certain of its officers on behalf of investors who purchased or otherwise acquired FuelCell securities between June 24, 2026 and September 1, 2026, inclusive (the “Class Period”), and were damaged thereby.
The action is captioned Nguyen v. FuelCell Energy, Inc., et al., Case No. 1:26-cv-07953, filed September 11, 2026 in the U.S. District Court for the Southern District of New York. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 promulgated thereunder.
Investors who purchased or otherwise acquired FuelCell securities between June 24, 2026 and September 1, 2026 may have legal rights and are encouraged to contact Kehoe Law Firm, P.C. to discuss their legal rights without cost or obligation.
What Does the Complaint Allege?
The complaint alleges that throughout the Class Period, the defendants made materially false and/or misleading statements and failed to disclose material adverse facts concerning FuelCell’s business, operations, and prospects.
Specifically, the complaint alleges that the defendants failed to disclose that FuelCell’s manufacturing capacity was inadequate to generate the production rate required under its capital equipment purchase agreement (“CEPA”) with Fit Energy USA LP; that the annualized production rate for deliveries under the CEPA was slower than expected; and that FuelCell was incurring higher product costs and manufacturing overhead expenses as a result.
The complaint further alleges that the slower production rate made it reasonably likely that FuelCell would incur charges in connection with the CEPA, that these circumstances constituted a known trend affecting the Company’s profitability, and that the defendants’ positive statements about FuelCell’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
FuelCell’s September 2, 2026 Disclosures
According to the complaint, on September 2, 2026, before the market opened, FuelCell reported its fiscal third-quarter 2026 financial results, including a net loss of $45.3 million.
FuelCell disclosed that the gross loss from product revenues reflected product costs and manufacturing overhead that exceeded the contractual pricing established under the CEPA with Fit Energy. The Company reported an annualized production rate of approximately 37.1 MW during the quarter, which remained below the production volume at which FuelCell expected its cost structure to align with market-based pricing for orders of that scale.
FuelCell also recorded $17.0 million in charges associated with specific inventory and firm purchase commitments arising from Phase 0 of the CEPA with Fit Energy.
The complaint alleges that, following these disclosures, FuelCell shares fell $2.68, or 15.69%, to close at $14.40 per share on September 2, 2026, on unusually heavy trading volume.
November 10, 2026 Lead Plaintiff Deadline
Investors who wish to seek appointment as lead plaintiff must do so by November 10, 2026. Investors do not need to seek appointment as lead plaintiff to remain potential members of the proposed class or to be eligible to share in any potential recovery.
FuelCell Energy Investors: Contact Kehoe Law Firm
Investors who purchased or otherwise acquired FuelCell Energy securities between June 24, 2026 and September 1, 2026 and suffered financial losses are encouraged to complete Kehoe Law Firm’s confidential Stockholder Information Request Form or send us a message to discuss their legal rights without cost or obligation.
For a free, no-obligation legal evaluation, contact:
Michael Yarnoff, Esq.
(215) 792-6676, Ext. 804
[email protected]
[email protected]
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action law firm representing investors, consumers, and employees in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, and retirement-plan mismanagement. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.
Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning plaintiffs are not responsible for attorneys’ fees or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval.
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