Robbins LLP is Investigating Allegations That FuelCell Energy, Inc. (FCEL) Misled Investors Regarding its Manufacturing Capacity

Robbins LLP informs investors that a class action was filed on behalf of persons and entities who purchased or otherwise acquired FuelCell Energy, Inc. (NASDAQ: FCEL) securities between June 4, 2026 and September 1, 2026, inclusive (the Class Period). FuelCell, together with its subsidiaries, engages in the design, development, production, construction, operation, and servicing of high temperature fuel cells for clean electric power generation.

Why Was FuelCell Sued?

According to the complaint, on June 24, 2026, FuelCell announced a capital equipment purchase agreement (“CEPA”) with Fit Energy USA LP (“Fit Energy”) for up to 380 MW of fuel cell power for data centers, with an initial committed 30 MW phase (“Phase 0”) including an immediate deposit.

The complaint alleges that, during the Class Period, defendants failed to disclose to investors:

(1) that the Company’s manufacturing capacity was inadequate to generate the production rate required under the CEPA;

(2) that, as a result, the Company’s annualized production rate for deliveries under the CEPA with Fit Energy was slower than expected;

(3) that, as a result, the Company was incurring higher product costs and manufacturing overhead expenses;

(4) that, as a result of the slower production rate, the Company was reasonably likely to incur charges in connection with the CEPA;

(5) that the foregoing was a known trend affecting the Company’s profitability; and

(6) 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.

Why Did FCEL Stock Drop?

On September 2, 2026, before the market opened, FuelCell reported its fiscal third quarter 2026 financial results, reporting a net loss of $45.3 million. According to the Company’s press release, this reflected “a higher gross loss than the prior year period,” which was caused by “product costs and manufacturing overhead that currently exceed the contractual pricing established under the CEPA with Fit Energy.” Further, FuelCell reported that the annualized production rate was “below the production volume at which we expect our cost structure to align with market-based pricing for orders of this scale,” and as a result, the Company recorded a $17 million charge to “reflect the impact of contractual pricing provisions associated with specific inventory and firm purchase commitments” arising from Phase 0 of the CEPA. On this news, FuelCell shares fell $2.68, or 15.69%, to close at $14.40 per share on September 2, 2026, on unusually heavy trading volume.

Who May Be Eligible to Participate in the FuelCell Class Action?

The lawsuit seeks to represent investors who purchased or otherwise acquired FuelCell Energy, Inc. securities between May 11, 2026 and August 9, 2026. Investors who suffered losses during that period may have legal rights under the federal securities laws. Submit a form for information.