Bloom Energy (BE) Faces Class Action Lawsuit Over Scandium Supply Disclosure Issues
Bloom Energy faces a class action lawsuit over alleged misrepresentation of its scandium supply chain, which allegedly sourced from China through intermediaries.Summary
Bloom Energy (BE) is facing a class action lawsuit initiated by shareholder law firms on behalf of investors who purchased the stock between February 27, 2025, and July 8, 2026. The lawsuit alleges the company made false or misleading statements about its supply chain, specifically regarding the sourcing of scandium, a critical material for its fuel cells. According to the complaint, Bloom Energy obtained scandium through intermediaries in China but failed to disclose this reliance, leading to investor harm when the information surfaced. The stock dropped significantly following reports by short seller Hunterbrook Media, which highlighted supply chain issues and hardware degradation. Despite this, Mizuho Securities analyst Maheep Mandloi upgraded the stock to 'Buy' with a $242 price target, citing strong Q2 results and Bloom Energy's financial strengths. TipRanks reports an average price target of $271.58, indicating 31.96% upside potential.
(Source：Markets Insider)