Bloom Energy faces securities lawsuit over scandium sourcing claims

Bloom Energy, a leading provider of clean, reliable power, faces a significant legal challenge as a securities class action lawsuit is set to reach a critical deadline on September 28, 2026. The lawsuit, brought by the national law firm Faruqi & Faruqi, LLP, alleges that the company and its executives violated federal securities laws by making misleading statements about their supply chain, particularly regarding the sourcing of scandium from China.

According to the complaint, Bloom Energy and its executives failed to disclose that the company obtained scandium through intermediaries who sourced the metal from China. This omission, the lawsuit argues, led to an understatement of the extent to which Bloom Energy relied on Chinese scandium, thereby making the company’s positive statements about its business, operations, and future prospects materially misleading.

On July 8, 2026, the publication of a report by Hunterbrook Media provided additional evidence that supported the lawsuit's claims. The report, based on global trade data, Chinese corporate filings, and satellite imagery, identified four separate China-linked routes through which scandium entered Bloom's supply chain. These routes included direct shipments to Bloom’s Delaware plant, as well as scandium-bearing ceramics and powders that flowed through intermediaries in Thailand, Japan, and South Korea.

As a result of this revelation, Bloom Energy's stock price dropped by 5.7%, or $15.28, to close at $254.29 per share, indicating significant investor concern and potential financial impact. The lawsuit seeks to recover losses incurred by investors who purchased Bloom Energy securities between February 27, 2025, and July 8, 2026.

Faruqi & Faruqi, LLP is urging any investors who believe they may have suffered losses to contact the firm. The law firm, which has recovered hundreds of millions of dollars for investors since its founding in 1995, is encouraging investors to take action to protect their legal rights. Investors are advised to preserve their trade confirmations and account statements and consider consulting an attorney.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is tasked with directing and overseeing the litigation on behalf of potential class members. Any investor who purchased Bloom Energy securities during the class period may move the court to serve as lead plaintiff by September 28, 2026, through counsel of their choice.

Faruqi & Faruqi, LLP is also seeking information from anyone with knowledge of the company's conduct, including whistleblowers, former employees, and shareholders. To learn more about the class action lawsuit, investors can visit www.faruqilaw.com/BE or contact the firm directly at 877-247-4292 or 212-983-9330 (Ext. 1310).