Bloom Energy Investors Face September 28 Deadline in Securities Fraud Class Action
Investors who purchased securities in Bloom Energy Corporation during the period from February 27, 2025, to July 8, 2026, have until September 28, 2026, to petition the court for appointment as lead plaintiff in a securities fraud class action lawsuit against the company.
The lawsuit, filed by law firm Kirby McInerney LLP, alleges that Bloom Energy made materially false and misleading statements regarding its supply chain dependencies. Specifically, the complaint asserts that the company obtained scandium through intermediaries who sourced the metal from China, while publicly understating the extent of its reliance on Chinese scandium supplies.
Short-Seller Report Triggers Stock Decline
On July 8, 2026, short-seller Hunterbrook Media released a report titled "Bloom's Big Lie," which claimed that Bloom Energy was heavily dependent on Chinese scandium. The report alleged that investigators traced four separate China-linked routes into the company's supply chain, including scandium oxide shipped directly to its Delaware facility, as well as scandium-bearing ceramics and powders flowing through intermediaries in Thailand, Japan, and South Korea.
Following publication of the report, Bloom Energy's stock price dropped $15.28 per share, or 5.7 percent, closing at $254.29 on July 8, 2026.
Company's Previous Statements Contradicted
Prior to the short-seller report, Bloom Energy had stated that it did not have significant supply chain exposure in China and was not dependent on China for scandium supplies. These statements form the basis of the fraud allegations in the lawsuit.
Lead Plaintiff Process and Deadline
Investors have until September 28, 2026, to request appointment as lead plaintiff in the case. Courts do not consider applications filed after this deadline. The lead plaintiff oversees the litigation on behalf of all class members and may influence key decisions regarding litigation strategy and potential settlement terms.
While institutional investors are often appointed as lead plaintiffs, courts regularly appoint individual investors to this role as well. Those interested in serving as lead plaintiff or learning more about the case may contact Kirby McInerney LLP.
The class action covers investors who purchased Bloom Energy securities during the period from February 27, 2025, through July 8, 2026. Kirby McInerney LLP, a New York-based plaintiffs' law firm specializing in securities litigation, has previously secured recoveries totaling billions of dollars on behalf of shareholders.
