Investors File Securities Class Action Against Bloom Energy

Investors filed a securities class action lawsuit against Bloom Energy Corporation and its top executives, alleging violations of the Securities Exchange Act of 1934 and SEC Rule 10b-5. The lawsuits claim the company made false and misleading statements by failing to disclose that its scandium was sourced from China through intermediaries in Thailand, Japan, and South Korea.

The legal action follows a July 8, 2026, report by short-seller Hunterbrook Media titled "Bloom's Big Lie," which asserted that the company relied on Chinese scandium despite previous claims to the contrary. Following the report's publication, the stock price of Bloom Energy declined between 5.7% and 6%.

Multiple law firms, including Robbins Geller Rudman & Dowd LLP and Schall, Brown & Schwartz LLP, are seeking to appoint lead plaintiffs for the class. The designated class period spans from February 27, 2025, to July 8, 2026. Affected investors have until September 28, 2026, to apply for the lead plaintiff role.