The Law Offices of Vincent Wong announce that a securities lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Bloom Energy Corporation (“Bloom Energy” or the “Company”) (NYSE: BE) shares pursuant to the July 2018 IPO.
The complaint alleges that Bloom Energy's Registration Statement was materially misleading as it failed to disclose known events and trends that were severely affecting the Company’s business and that made investment in Bloom Energy significantly riskier than presented in the Registration Statement. In particular, the Registration Statement failed to disclose that the Company was experiencing material construction delays. These construction delays would cause system deployments (or “acceptances” as Defendants referred to them) to fall significantly below even the low end of the Company’s previously announced guidance. The complaint further alleged that, while the Registration Statement purported to warn of risks that “may arise,” which could materially affect the Company, in actuality these material negative events were already occurring. As a result, the representations and purported risk disclosures were false and misleading because, by the time of the IPO, construction delays had already impacted or would soon impact Bloom Energy’s ability to deliver acceptances in line with its guidance.
If you purchased Bloom Energy stock pursuant to the IPO you have until July 29, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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