Kirby McInerney LLP and the Law Offices of Howard G. Smith launched investigations into FuelCell Energy on September 4, 2026. The firms are probing potential securities law violations following the company's third-quarter earnings report.
FuelCell reported a 29% year-over-year revenue decline on September 2. Total revenue for the quarter fell to $33 million.
The company disclosed significant charges related to its Fit Energy agreement. Product costs and manufacturing overhead currently exceed the contractual pricing for this key deal.
These factors led to a GAAP gross loss of $24.5 million. FuelCell Energy shares plummeted 15.7% following the announcement.
The stock closed at $14.40 per share on September 2. Investigators are now examining whether the company engaged in unlawful business practices.