Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Bloom Energy Corporation (BE)
NEW YORK, July 31, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Bloom Energy Corporation (“Bloom Energy” or the “Company”) (NYSE: BE) securities between February 27, 2025 and July 8, 2026, inclusive (the “Class Period”).
The Complaint alleges that Defendants failed to disclose to investors that: (1) that Bloom Energy obtained scandium through intermediaries who sourced the metal from China; (2) that, as a result, the Company understated the extent to which it relied on scandium from China; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
The Complaint alleges that on July 8, 2026, at approximately 1:00 p.m. EST, Hunterbrook Media published a report alleging, among other things, that “Bloom is, in fact, reliant on Chinese scandium, according to global trade data, Chinese corporate filings, satellite imagery, and Hunterbrook’s messages with Bloom’s suppliers in China.” The Complaint continues to allege that the report states “Hunterbrook traced four separate China-linked routes into Bloom’s supply chain — scandium oxide shipped directly to its Delaware plant, plus scandium-bearing ceramics and powders flowing through intermediaries in Thailand, Japan, and South Korea.”
The Complaint alleges that on this news, Bloom’s stock price fell $15.28, or 5.7%, to close at $254.29 per share on July 8, 2026, on unusually heavy trading volume.
Investors who purchased or otherwise acquired shares of Bloom Energy should contact the Firm prior to the September 28, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
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