DENVER, CO, March 5, 2020 – Shuman Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of Bloom Energy Corp. (“Bloom” or the “Company”) (NYSE: BE). Bloom designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation.
The Firm’s investigation relates to a press release issued by the Company on February 12, 2020, wherein Bloom admitted that its previously issued financial statements for 2018, as well as those for the first three quarters of 2019, should no longer be relied on. These errors include material misstatements in the company’s financial statements that were provided to shareholders during the July 25, 2018 initial public offering. Bloom admitted that as a result it: (1) overstated revenues by $165 million to $180 million; (2) expects to report an increase in operating loss in a range of $20 million to $35 million; and, (3) expects to report an increase in net loss in a range of $55 million to $75 million. This news drove the price of Bloom shares traded down more than 21% lower during aftermarket trading on Feb. 12, 2020.
If you currently own Bloom common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip Shuman toll free at (866) 569-4531 or email Mr. Shuman at firstname.lastname@example.org.