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SAN FRANCISCO, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Hagens Berman notifies Bloom Energy Corporation (NYSE: BE) investors of the firm’s investigation of possible violations of federal securities laws.
Bloom Energy (BE) Investigation:
The investigation centers on whether Bloom Energy misrepresented and concealed its servicing liabilities.
On September 17, 2019, Hindenburg Research published a scathing report about Bloom Energy. Among other things, Hindenburg accused the Company of having an estimated $2.2 billion in undisclosed servicing liabilities and using “tricky accounting . . . to avoid recognizing major recent additional losses.” In response, the price of Bloom Energy shares fell sharply that day.
“We’re focused on investors’ losses and whether the Company cooked its books,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Bloom Energy should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email BE@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000