SueWallSt Files Class Action Against Bloom Energy Over Scandium Allegations
News related to:Bloom Energy Corporation · 2 min read
NEW YORK, Sept. 15, 2026 /CourierPR/ -- SueWallSt has notified investors in Bloom Energy Corporation (NYSE: BE) of a securities class action lawsuit. The action was filed on behalf of shareholders who purchased Bloom Energy securities between February 27, 2025, and July 8, 2026. The lead plaintiff deadline is September 28, 2026.
The lawsuit centers on allegations that Bloom Energy made materially false or misleading statements regarding its supply chain, specifically regarding the origin of its scandium, a rare earth element crucial for the operation of its solid oxide fuel cells. A published research report questioned the authenticity of the Company's scandium supply, leading to a significant drop in the stock price.
According to the complaint, Bloom Energy's scandium moved through intermediary countries before reaching its U.S. facilities. The metal reportedly reached the Company's Newark, Delaware plant on at least four occasions between August 2023 and May 2024. Additionally, scandium-bearing ceramics and powders moved through intermediaries in Thailand, Japan, and South Korea. Plaintiffs allege that this structure understated the Company's true dependence on Chinese material.
The lawsuit also contends that Bloom Energy's supply chain was rerouted to avoid direct exports to the U.S.
The complaint provides a detailed account of Bloom Energy's supply chain, citing specific transactions. For instance, more than 154 metric tons of ceramic electrolyte membranes were shipped to Bloom from a Thailand-based subsidiary of a Chinese group between July 2024 and November 2025. Nearly 300 drums of "scandia" or "scandia-stabilized" powder were received from a Japanese supplier whose corporate network includes a Chinese zirconium-compounds trading subsidiary. In 2025, a South Korean electrolyte materials supplier purchased 127 billion won ($83 million) from its Chinese parent's Hong Kong unit, according to Korean corporate disclosures cited in the action.
Furthermore, the lawsuit alleges that Bloom Energy's temperature sensor purchases were heavily concentrated with more than 70% attributed to a single Chinese manufacturer over a roughly two-decade relationship. The complaint also mentions that approximately 50 billion won in expected Korean ceramic substrate production capacity is tied to expanding Bloom orders.
Joseph E. Levi, Esq., a partner at SueWallSt, commented, "The complaint raises serious questions about whether investors received accurate information about where Bloom Energy's critical fuel cell materials actually originated. Allegations that scandium moved through intermediary countries before reaching U.S. facilities go to the heart of what shareholders were told about supply chain and tariff exposure."
Investors who purchased Bloom Energy securities between February 27, 2025, and July 8, 2026, and suffered financial losses may be eligible to participate in the lawsuit. Investors are advised to gather their brokerage records, including purchase dates, share quantities, and prices paid, and contact SueWallSt for a no-cost, no-obligation evaluation.