Bloom Energy Gets Nod to Settle IPO Class Action for $3 Million

Bloom Energy Corp., its leadership, and underwriters will pay $3 million to settle allegations that the company made misleading statements related to its initial public offering, according to a federal judge’s order granting preliminary approval of the deal.

The settlement would benefit a class of investors who acquired shares of Bloom Energy stock between the company’s July 25, 2018 IPO and March 31, 2020, according to the order filed Tuesday is US District Court for the Northern District of California.

Bloom, its officers, and directors, as well as its underwriters and auditors, had allegedly misrepresented or omitted key information ...