Bloom Energy Hit With Securities Lawsuit Over IPO Statements

Bloom Energy Corp. was hit with a proposed securities class action by stock purchasers who allege the company issued a misleading statement in connection with its initial public offering.

The plaintiffs allege Bloom Energy and some officers of the company involved in issuing the statement failed to disclose construction delays.

When that information later came out, Bloom Energy stock plummeted, “wiping out tens of millions of dollars investors provided to the company in the IPO,” the complaint alleges.

Bloom Energy makes energy efficient fuel-cell power servers used by companies including AT&T Corp., Google Inc., and Walmart Stores Inc.

Cause of ...