A securities class action alleges FuelCell Energy waited until its September 2, 2026 quarterly report to disclose that output was running far below the rate required by its Fit Energy agreement.

NEW YORK, Sept. 17, 2026 /PRNewswire/ — June 24, 2026: an agreement for up to 380 MW of fuel cell power. September 2, 2026: a $17.0 million charge. SueWallSt notifies investors in FuelCell Energy, Inc. (NASDAQ: FCEL) that a class action has been filed on behalf of shareholders who purchased securities between June 24, 2026 and September 1, 2026. See if you could be eligible to recover. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

FCEL closed at a Class Period high of $36.01 per share on June 30, 2026. On September 2, 2026, the stock fell $2.68, or 15.69%, to close at $14.40 per share on unusually heavy trading volume. Investors have until November 10, 2026 to seek lead plaintiff status.

Ten Weeks Between the Announcement and the Charge

The securities action alleges that the interval between the Fit Energy announcement and the fiscal third quarter report is where shareholder harm accumulated. During that window, as detailed in the action, the Company sold stock to the public and continued to describe its capacity expansion in positive terms while the annualized production rate for Phase 0 deliveries allegedly remained too low for costs to align with contractual pricing.

Timeline of Alleged Disclosure Failures

• June 22, 2026: The Capital Equipment Purchase Agreement with Fit Energy USA LP is entered into, with payment obligations for the initial 30 MW Phase 0 effective upon execution.
• June 24, 2026: The agreement for up to 380 MW of data center fuel cell power is announced publicly, described as designed to align long-term value creation with successful project execution.
• June 30, 2026: Shares close at their Class Period high of $36.01.
• July 8, 2026: A prospectus supplement is filed for an underwritten offering of approximately 12.3 million shares at $21.00 per share, incorporating risk language that manufacturing facilities “may be inadequate to meet demand.” The lawsuit chronicles that inadequate capacity was allegedly already constraining deliveries.
• September 2, 2026: Fiscal third quarter results report a net loss of $45.3 million, revenue of $33.0 million, and $17.0 million in charges tied to contractual pricing provisions arising from Phase 0, alongside an annualized production rate of approximately 37.1 MW.
• September 2, 2026: FCEL closes down 15.69% at $14.40.

Why the Sequence Matters to Shareholders

“Timely disclosure of material developments is fundamental to fair and efficient markets. The complaint alleges that the depressed annualized production rate, and the cost overruns it produced under the Fit Energy agreement, were a known trend inside the Company well before the September 2 report reached the investing public.” — Joseph E. Levi, Esq.

Calculate your potential recovery or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the FCEL Lawsuit

Q: What specific misstatements does the FCEL lawsuit allege? A: The complaint alleges FuelCell Energy, Inc. made materially false or misleading statements or otherwise omitted known information regarding the adequacy of its manufacturing capacity to generate the production rate required under the Fit Energy agreement, and the likelihood of incurring the resulting product cost and manufacturing overhead increases.

Q: When did FuelCell Energy allegedly mislead investors? A: The Class Period runs from June 24, 2026 to September 1, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What court was the FCEL class action filed in? A: The case was filed in the United States District Court for the Southern District of New York, governed by the Private Securities Litigation Reform Act of 1995.

Q: What do FCEL investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my FCEL shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution. Timing depends on the court schedule, case developments, and whether the matter is dismissed, settled, or litigated further.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171

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