The lawsuit, filed by Hagens Berman, targets CEO Jason B. Few and CFO Michael S. Bishop for their public statements between June 24 and September 1, 2026. During this period, the company touted a 380-megawatt clean power agreement with Fit Energy while concurrently raising $245.5 million through a public stock offering priced at $21 per share. Plaintiffs claim the company hid the fact that its manufacturing facilities were incapable of meeting the production rates promised in the agreement.

According to the complaint, these production shortfalls forced the company to absorb costs that far exceeded contractual pricing. The reality surfaced on September 2, 2026, when the firm disclosed a $45.3 million net loss, including $17 million in charges linked specifically to the Fit Energy deal. Reed Kathrein, a partner at Hagens Berman, stated the firm is investigating whether leadership knowingly obscured these operational limitations from shareholders. Investors who held stock during the designated class period have until November 10, 2026, to seek appointment as lead plaintiff.