An investigation on behalf of investors in Bloom Energy Corporation (NYSE: BE) shares over potential wrongdoing at Bloom Energy Corporation was announced.
San Diego, CA -- (SBWIRE) -- 05/28/2019 -- An investigation was announced for investors in shares of Bloom Energy Corporation (NYSE: BE) over potential breaches of fiduciary duties by certain directors at Bloom Energy Corporation.
Investors who purchased shares of Bloom Energy Corporation (NYSE: BE) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Bloom Energy directors breached their fiduciary duties and caused damage to the company and its shareholders.
San Jose, CA based Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. In July 2018, Bloom Energy Corporation completed its initial public offering (the "IPO"), issuing approximately 18 million shares of common stock priced at $15 per share and raising approximately $284.3 million in net proceeds.
On November 5, 2018, Bloom Energy Corporation announced that it had delivered only 206 system deployments (i.e., "acceptances") for the quarter, significantly below even the low end of its previously provided guidance of 215 to 235 acceptances. In addition, the Company provided guidance of only 225 to 275 acceptances for the fourth quarter of 2018, well below the more than 300 acceptances that analysts expected.
On February 5, 2019, Bloom Energy Corporation announced its fourth quarter and full year 2018 financial results. Bloom Energy Corporation reported that its annual Total Revenue rose from $375.99 million in 2017 to $742.03 million in 2018 and that Net Loss declined from $262.59 million in 2017 to $241.75 million in 2018.
Shares of Bloom Energy Corporation (NYSE: BE) declined from as high as $36.59 per share in September 2018 to as low as $8.88 per share in January 2019.
On April 8, 2019, NYSE: BE shares closed at $12.37 per share.
Those who purchased shares of Bloom Energy Corporation (NYSE: BE) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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