Plug Power Investors Can Proceed With Suit Over Growth, Revenue

Plug Power Inc. investors have successfully pleaded part of their securities fraud suit over the hydrogen fuel cell maker’s representations about its anticipated growth, a federal court ruled.

Some company statements about its target goal for hydrogen production by the end of 2022 are actionable, as are statements about one revenue projection, Judge Jennifer L. Hall said Monday for the US District Court for the District of Delaware.

The previous version of the investors’ complaint succumbed to Plug Power’s arguments for dismissal. But this time, former employees’ accounts and other allegations were sufficient to support the falsity and intent aspects ...