NEW YORK–(BUSINESS WIRE)–Zamansky LLC announces that it is investigating Bloom Energy Corp. (BE) (“Bloom” or the “Company”) for potential breaches of fiduciary duties by Bloom’s senior officers and board of directors. If you are a shareholder of Bloom who still holds your shares, please contact our firm for information.
It has recently emerged that Bloom has allegedly used an “accounting trick” that “allows it to mask servicing costs and shift write-downs to other periods, thereby avoiding recognizing major recent additional losses.” According to a September 17, 2019 report from Hindenburg Research, Bloom would allegedly “mask its liabilities” in a way that “only discloses 1 year of servicing liabilities despite servicing contracts that last up to 25 years.” Although Bloom has issued a statement that it disagrees with the report, the Hindenburg Research report alleges to have found “an estimated $2+ billion undisclosed servicing liability.”
According to Jake Zamansky, investment fraud attorney, Bloom’s officers and directors owe the Company and its shareholders fiduciary duties. “The recent report from Hindenburg Research and other related issues raise potential concern for investors,” Zamansky says. “Our law firm is investigating whether the officers and directors have breached their duties to Bloom and its shareholders.”
What Bloom Shareholders Can Do
If you are a current shareholder of Bloom who still holds your stock, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email [email protected] or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
50 Broadway – 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414