Kaplan Fox Encourages FuelCell Energy, Inc. (FCEL) Investors with Significant Losses to Contact the Firm Before November 10, 2026

Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against FuelCell Energy, Inc. ("FuelCell" or the "Company") (NASDAQ: FCEL) on behalf of investors that purchased or otherwise acquired FuelCell securities between June 24, 2026 and September 1, 2026 (the "Class Period").

If you are an investor in FuelCell and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.

DEADLINE REMINDER : If you are a member of the proposed Class, you may move the court no later than November 10, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.

On June 24, 2026, FuelCell announced a "strategic agreement" with Fit Energy USA LP ("Fit Energy") to manufacture, sell and deliver carbonate fuel cell block systems "for up to 380 megawatts (MW) of clean, baseload on-site power for data centers using FuelCell Energy's utility-scale fuel cell technology[," including "an immediate deposit for an initial 30 MW of power scheduled to begin delivery later this year."

Then, on September 2, 2026, FuelCell reported financial results for the fiscal third quarter 2026 ending July 31, 2026, including a gross loss of $24.5 million in the third quarter of fiscal 2026 compared to a gross loss of $5.1 million in the third quarter of 2025.

During the earnings call to discuss these results, FuelCell's Chief Financial Officer ("CFO") said that the "the primary driver" of the Company's higher gross loss than the prior year period was "$17 million of charges recorded during the quarter" that were recorded in connection with Phase 0 of FuelCell's Capital Equipment Purchase Agreement ("CEPA") with Fit Energy "due to the fact that our current product costs and manufacturing overhead exceed the contractual pricing established under that agreement."

On this news, FuelCell shares fell $2.68, or 15.69%, to close at $14.40 per share on September 2, 2026.

The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that the Company's manufacturing capacity was inadequate to generate the production rate required under the CEPA with Fit Energy and that the Company was reasonably likely to incur charges in connection with the CEPA.