FuelCell Energy, Inc. (NASDAQ:FCEL) SHAREHOLDER ALERT: Investors With Losses May Seek to Lead the Class Action in FuelCell Energy, Inc. Securities Lawsuit - Contact Portnoy Law Firm

LOS ANGELES, Oct. 27, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm notifies investors in FuelCell Energy, Inc. (NASDAQ: FCEL) that a securities class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired FuelCell common stock between June 24, 2026 and September 1, 2026, inclusive (the 'Class Period'). Find out if you qualify to recover your per-share losses by choosing to join the class action and submit your trade details. Investors who suffered financial losses have until November 10, 2026 to seek appointment as lead plaintiff. Shareholders should contact Lesley Portnoy via e-mail (Lesley@portnoylaw.com or call (310) 692-8883) or visit http://portnoylaw.com/fuelcell-energy-inc to learn more information and discuss their legal rights.

Please visit our website for more information on how to participate in this class action.

The class action complaint asserts that throughout the Class Period, defendants heavily promoted a prominent Capital Equipment Purchase Agreement (CEPA) publicized on June 24, 2026. Under this agreement, FuelCell contracted to furnish Fit Energy USA LP with carbonate fuel cell block systems capable of delivering up to 380 megawatts (MW) of clean, continuous on-site power for data centers, commencing with an initial 30 MW tranche. Leveraging the resulting market optimism, FuelCell simultaneously executed a substantial underwritten public offering of more than 12 million common shares at $21 per share, securing approximately $245.5 million in net proceeds.

The lawsuit claims, however, that leadership concealed crucial operational shortcomings from the market. Specifically, the filings assert that FuelCell lacked the physical manufacturing capacity needed to fulfill the output demands of the Fit Energy CEPA. As a result of these low production volumes, manufacturing overhead and unit costs significantly eclipsed the agreed-upon contractual prices, trapping the firm in deep gross losses. Furthermore, the complaint alleges that the company was quietly accumulating millions of dollars in inventory obligations and financial charges tied to Phase 0 of the contract, which threatened to severely erode quarterly earnings.

These undisclosed issues were exposed prior to the market open on September 2, 2026, when FuelCell published its fiscal third-quarter 2026 financial metrics. The company reported a sharp net loss of $45.3 million along with a dramatic rise in gross losses, propelled by $17 million in charges logged for Phase 0 of the Fit Energy CEPA due to production expenses and overhead surpassing contract revenue.

WHY PORTNOY LAW FIRM

The Portnoy Law Firm represents investors in complex securities class action litigation and shareholder rights matters across the nation. Founded by Lesley Portnoy, the firm's attorneys have recovered billions of dollars for aggrieved institutional and retail investors. The firm leverages extensive legal expertise and sophisticated financial forensic capabilities to hold public corporations accountable for corporate wrongdoing and misrepresentation.

Lead Plaintiff Deadline: Investors who suffered losses on FuelCell Energy, Inc. stock during the Class Period have until November 10, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the FuelCell Lawsuit

Q: What is the FuelCell lead plaintiff deadline?
A: The deadline to apply for lead plaintiff appointment is November 10, 2026. This deadline applies strictly to investors seeking to serve as lead plaintiff representing the class. Class members who do not apply may still participate in any eventual financial recovery as absent class members without taking any action at this time.

Q: How much did FuelCell stock drop and on what dates?
A: Following the reporting of its fiscal third quarter 2026 financial results—which revealed a net loss of $45.3 million, higher gross losses driven by product costs and manufacturing overhead exceeding contractual pricing under the Fit Energy capital equipment purchase agreement (CEPA), and a $17 million charge—FuelCell Energy, Inc. common stock fell $2.68 per share, or 15.69%, to close at $14.40 per share on September 2, 2026, on unusually heavy trading volume.

Q: What specific misstatements does the FuelCell lawsuit allege?
A: The lawsuit alleges that FuelCell Energy, Inc. and its executive officers misled investors by announcing a major capital equipment purchase agreement (CEPA) with Fit Energy USA LP for up to 380 MW of fuel cell power for data centers, while touting the deal as aligned with long-term value creation. Specifically, the complaint asserts that these statements were materially false and misleading because Defendants failed to disclose that the company's manufacturing capacity was inadequate to generate the required production rate, that annualized production for deliveries under the CEPA was slower than expected, and that as a result, the company was incurring higher product costs and manufacturing overhead expenses that made it reasonably likely to incur millions of dollars in financial charges.

Q: What do FuelCell investors need to do right now?
A: Investors who purchased FCEL common stock during the Class Period (June 24, 2026 through September 1, 2026) should gather their trade confirmation slips or brokerage transaction logs showing purchase dates, number of shares, and prices paid. You may submit your trade details to Portnoy Law Firm here for a free, no-obligation evaluation of your potential loss recovery. No immediate legal action is required to remain an eligible absent class member.

Q: What is a lead plaintiff and why does it matter?
A: A lead plaintiff is a court-appointed class member who acts on behalf of all other class members in directing the litigation. The lead plaintiff is typically the investor or group of investors that makes a motion with the largest financial interest in the relief sought. While serving as lead plaintiff does not increase an investor's individual financial recovery compared to other class members, it gives the investor direct authority to select lead counsel and oversee the prosecution of the lawsuit.

Q: Does the lead plaintiff receive any type of compensation?

A: Yes, in many cases, Courts award the lead plaintiff an additional amount of money to compensate the lead plaintiff for their participation in the case.

Q: Does it cost anything to participate in this case as a lead plaintiff?

A: A lead plaintiff does not pay any fees or expenses out of pocket. Our firm works on a contingency basis, and will collect any fees or expenses directly from a future recovery.

Q: What if I already sold my FuelCell shares -- can I still recover losses?
A: Yes. Eligibility to participate in a securities class action recovery depends on whether you purchased or acquired FCEL common stock during the Class Period (June 24, 2026 to September 1, 2026) and suffered an economic loss. Investors who sold their shares prior to or after the public disclosures may still be eligible to recover damages based on the artificial inflation present in the stock at the time of purchase.

Q: How long will the FuelCell lawsuit take to resolve?
A: Securities class action lawsuits typically take between two and four years from initial filing to full resolution. The exact timeline depends on court scheduling, motion practice (such as motions to dismiss), pre-trial discovery, and potential settlement negotiations or trial proceedings.

Q: Can I choose a different law firm to represent me?
A: Yes. Investors have the absolute right to retain any legal counsel of their choice. When multiple class action complaints are filed, the court will consolidate the actions and appoint a lead plaintiff and lead counsel. You may choose to be represented by Portnoy Law Firm, retain separate counsel, or remain an absent class member represented by court-appointed lead counsel.

CONTACT INFORMATION

Portnoy Law Firm
Lesley Portnoy, Esq.
Email: lesley@portnoylaw.com / info@portnoylaw.com
Telephone: (310) 692-8883

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