Investors Face November Deadline in FuelCell Energy Securities Lawsuit

The legal action, spearheaded by the firm Hagens Berman, targets CEO Jason B. Few and CFO Michael S. Bishop. The complaint centers on a Capital Equipment Purchase Agreement with Fit Energy USA LP, which was announced on June 24, 2026. At the time, FuelCell touted the deal to provide 380 megawatts of power for data centers, a move accompanied by a public offering that raised approximately $245.5 million at $21 per share.

The suit claims that while management promoted the deal, they failed to disclose that the company lacked the manufacturing capacity to meet the required production rates. According to the complaint, production costs and overhead significantly exceeded the pricing stipulated in the contract, creating substantial gross losses. The financial reality surfaced on September 2, 2026, when FuelCell reported a $45.3 million net loss, including $17 million in charges directly tied to the Fit Energy project. Following the disclosure, the company's stock price dropped nearly 16%.

"We're focused on whether FuelCell may have misled investors about its manufacturing capabilities," said Reed Kathrein, the Hagens Berman partner leading the investigation. Investors who suffered financial losses during this period are eligible to participate, regardless of whether they have sold their shares. The firm is also encouraging individuals with non-public information to come forward as whistleblowers.