Shareholder Alert - Robbins LLP Informs Investors of the Bloom Energy Corporation Class Action Lawsuit
SAN DIEGO--( BUSINESS WIRE)-- Robbins LLP informs investors that a securities class action has been filed on behalf of all persons and entities that purchased or otherwise acquired Bloom Energy Corporation (NYSE: BE) securities between February 27, 2025 and July 8, 2026 (the "Class Period").
Bloom Energy designs, manufactures, sells, and installs solid oxide fuel cell systems for on-site power generation in the United States and internationally. Scandium is a rare earth metal used as a dopant to stabilize the zirconia-based ceramic electrolyte in the Company's solid oxide fuel cells.
Investors who suffered losses during the Class Period may have legal rights and should contact Robbins LLP for information about seeking appointment as lead plaintiff.
Why Was Bloom Energy Sued?
According to the complaint, Bloom Energy described the Company's supply chain as not being dependent on China. The lawsuit alleges that Bloom Energy and certain defendants failed to adequately disclose that the Company was in fact reliant on Chinese scandium.
According to plaintiff, defendants failed to disclose that:
(1) Bloom Energy obtained scandium through intermediaries who sourced the metal from China;
(2) as a result, the Company understated the extent to which it relied on scandium from China; and
(3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
What Did Bloom Energy Say About its Reliance on China?
The complaint alleges that several times during the class period, defendants reiterated that Bloom Energy was not reliant on China. Specifically:
February 27, 2025 – Bloom Energy stated in its annual report for the fiscal year ended December 31, 2024 on a Form 10-K filed with the SEC that the Company’s “supply chain does not have significant exposure to China.”
April 30, 2025 – On an earnings call in connection with the Company's first quarter 2025 financial results, defendant Sridhar stated that “there is no China supply chain for us” and “we are not dependent on China for scandium.”
July 31, 2025 – Bloom Energy stated in its quarterly report for the period ended June 30, 2025 on a Form 10-Q filed with the SEC that the Company's "supply chain does not have significant exposure to China."
September 12, 2025 – Media outlet Semafor published an article containing an interview with defendant Sridhar in which Sridhar alleged “Starting in 2004, we said we are not going to depend on a Chinese supply chain. If we believe in energy abundance for all, there cannot be a single source to strangle you.”
October 28, 2025 – Bloom Energy stated in its quarterly report for the period ended September 30, 2025 on a Form 10-Q filed with the SEC that the Company's "supply chain does not have significant exposure to China."
February 5, 2026 – Bloom Energy stated in its annual report for the fiscal year ended December 31, 2025 on a Form 10-K filed with the SEC that Company’s “supply chain does not have significant exposure to China” and purported to assured investors China merely “supplies multiple components including rare earth metals and compounds used in electronic and electromechanical components that are part of our tier 2 and tier 3 sub-assembly suppliers.”
June 10, 2026 – The Wall Street Journal published a video interview with defendant Sridhar in which Sridhar confirmed that one of the notable countries Bloom Energy is not sourcing from is China. Sridhar explained that "early on in the company we made a decision that we are only going to depend on supply chains that we can completely trust and that [China] was a country we avoided."
July 7, 2026 – Bloom Energy published a blog post authored by its COO in which they discussed the resiliency of Bloom Energy's supply chain and noted that the Company sources scandium from multiple sources.
Why Did BE Stock Collapse?
This complaint alleges that the collapse of Bloom Energy's stock followed the publication of an article by Hunterbrook Media entitled "Bloom's Big Lie." The Report alleged that Bloom Energy is "in fact, reliant on Chinese scandium."
Hunterbrook “found four separate trade routes that appear to show Chinese scandium is still part of Bloom’s supply chain, and the material is reaching the U.S. through intermediary countries.” Based on conversations with a major scandium producer in China (who claimed to be Bloom Energy’s largest supplier) and commercially available trade data, the Report claimed that Bloom Energy received scandium directly from China on 4 occasions between August 2023 and May 2024."
On this news, Bloom’s stock price fell $15.28, or 5.7%, to close at $254.29 per share on July 8, 2026.
Who May Be Eligible?
The lawsuit seeks to represent investors who purchased or otherwise acquired Bloom Energy Corporation (BE) securities during the applicable Class Period.
If you purchased Bloom Energy stock during this period and suffered investment losses, you may have rights under the federal securities laws.
What Is a Lead Plaintiff?
The lead plaintiff is the investor appointed by the court to represent the interests of the proposed class throughout the litigation.
Investors do not have to serve as lead plaintiff to potentially share in any recovery if the lawsuit is successful.
If you are interested in seeking appointment as lead plaintiff, contact Robbins LLP.
Frequently Asked Questions
What is the Bloom Energy class action about?
The lawsuit alleges that Bloom Energy and certain defendants failed to adequately disclose that the Company was reliant on Chinese scandium.
Why did BE stock crash?
According to the complaint, Bloom Energy experienced a steep decline on July 8, 2026, after the release of the Hunterbrook Media publication. The stock fell $15.28 in one day.
Who can participate in the lawsuit?
Investors who purchased Bloom Energy Corporation securities during the applicable Class Period may be eligible to participate in the proposed securities class action.
Do I have to become lead plaintiff?
No. Investors do not have to seek appointment as lead plaintiff to potentially share in any future recovery if the litigation is successful.
If you want to become the lead plaintiff, contact Robbins LLP for information.
Does it cost anything to participate?
Robbins LLP represents investors on a contingency fee basis. Investors never pay attorneys' fees or litigation expenses. If there is a recovery, defendants pay fees and expenses.
Contact Robbins LLP
Investors seeking additional information about the Bloom Energy securities class action may submit an inquiry through Robbins LLP's website, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
About Robbins LLP
A recognized leader in shareholder rights litigation, Robbins LLP has helped restore more than $1 billion in value to shareholders, secured some of the largest recoveries in shareholder derivative litigation history, and achieved governance reforms at over 400 Fortune 1000 companies.
"Behind everything we do is the belief that companies should be governed responsibly, fiduciaries should be held accountable, and shareholders deserve transparency and fairness," said Brian J. Robbins, Founding Partner of Robbins LLP.
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