FuelCell Energy faces securities class action over Fit Energy disclosures

A securities class action lawsuit has been filed against FuelCell Energy, Inc. (NASDAQ: FCEL), with national trial law firm Hagens Berman alerting investors. The suit alleges the company and its executives made materially false and misleading statements regarding its manufacturing capacity, production economics, and a significant commercial agreement with Fit Energy USA LP. Investors have until November 10, 2026, to seek appointment as lead plaintiff.

The core of the allegations centers on a Capital Equipment Purchase Agreement (CEPA) announced in June 2026. Under this agreement, FuelCell Energy was to supply carbonate fuel cell block systems for up to 380 megawatts for Fit Energy's data centers. At the time of this announcement, FuelCell Energy also completed a public offering that raised approximately $245.5 million.

The complaint contends that FuelCell Energy failed to disclose critical operational realities. It alleges that the company's actual manufacturing capacity was insufficient to meet the production rates required by the Fit Energy CEPA. Furthermore, it claims that production costs and manufacturing overheads significantly exceeded contract pricing, resulting in substantial gross losses for the company.

The truth emerged in early September 2026 when FuelCell Energy reported its third-quarter financial results. The company disclosed a net loss of $45.3 million and a significant increase in gross losses. This was attributed to $17 million in charges related to the initial phase of the Fit Energy CEPA, driven by current product costs and overhead exceeding contract pricing.

Following these disclosures, FuelCell Energy's stock price fell nearly 16% in a single trading session. Hagens Berman is investigating the case and urges any investors who incurred losses during the class period to contact the firm.