LOS ANGELES–(BUSINESS WIRE)–$BE #CLASSACTION—Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the upcoming July
29, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of Bloom Energy Corporation (“Bloom Energy” or
the “Company”) (NYSE: BE)
investors who purchased securities pursuant and/or traceable to the
registration statement and prospectus (collectively, the “Registration
Statement”) issued in connection with the Company’s July 2018 initial
public offering (“IPO” or the “Offering”).
If you are a shareholder who suffered a loss, click here to
participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
In July 2018, Bloom Energy completed its initial public offering
(“IPO”), issuing approximately 18 million shares of common stock priced
at $15 per share. On November 5, 2018, Bloom Energy revealed that it had
only delivered 206 system deployments (i.e., “acceptances”) for
third quarter 2018, significantly below its previously-issued guidance
of 215 to 235 acceptances. For fourth quarter 2018, the Company expected
only 225 to 275 acceptances, well below the more than 300 acceptances
that analysts expected.
On this news, the Company’s share price fell $5.76 per share, more than
25%, to close at $17.25 per share on November 6, 2018, thereby injuring
investors. Since the IPO, Bloom Energy’s stock has traded as low as
$9.21 per share, significantly below the $15 offering price.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) Bloom Energy was
experiencing material construction delays that would cause system
deployments to fall significantly, even below the low end of Bloom
Energy’s previously announced guidance; and (2) as a result of the
foregoing, defendants’ positive statements in the Registration Statement
about Bloom Energy’s business, operations, and prospects were materially
misleading and/or lacked a reasonable basis.
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If you purchased or otherwise acquired Bloom Energy securities during
the Class Period you may move the Court no later than July 29,
2019 to request appointment as lead plaintiff in this putative class
action lawsuit. To be a member of the class action you need not take any
action at this time; you may retain counsel of your choice or take no
action and remain an absent member of the class action. If you wish
to learn more about this class action, or if you have any questions
concerning this announcement or your rights or interests with respect to
the pending class action lawsuit, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
