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
File Number 3-21588
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:    

Related Documents:

34-98243-s 30-Aug-2023 Administrative Summary
SEC Charges Plug Power for Financial Reporting, Accounting, and Controls Violations
The SEC stated that: "[It] charged Plug Power Inc., a provider of green hydrogen and hydrogen-fuel-cell systems, for financial reporting, accounting, and controls failures that required a multi-year restatement of the company’s prior financial statements. Plug Power has agreed to settle the SEC’s charges."