Defendant Name:
Plug Power Inc.
Defendant Type:
Public Company
SIC Code:
3629
CUSIP:
72919P20
Document Reference:
34-98243
Document Details
Legal Case Name
In the Matter of Plug Power, Inc.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
30-Aug-2023
Document Format
Administrative Proceeding
AAER
4452
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On August 30, 2023, the SEC instituted settled cease-and-desist proceedings against Plug Power Inc., stating: "This matter involves financial reporting, accounting, and controls failures by Plug Power, a provider of green hydrogen and hydrogen-fuel-cell systems. These failures led to a multi-year restatement of Plug Power’s financial statements concerning, among other things, reported assets and liabilities for leases, classification of certain operating costs, and loss accruals for service contracts."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$1,250,000.00
Shared: