Bloom Energy Corporation BE Securities Class Action Lawsuit Update

Key Facts About Bloom Energy Corporation (NYSE: BE)

• The Allegation: The complaint alleges Bloom Energy repeatedly told investors its supply chain was not dependent on China, including for scandium, while allegedly obtaining scandium through intermediaries that sourced the metal from China.

• The Stock Drop: BE fell $15.28, or 5.7%, to close at $254.29 per share on July 8, 2026, after Hunterbrook Media published a report alleging China-linked routes into Bloom Energy's scandium supply chain.

• Class Period & Defendants: The class period runs from February 27, 2025 through July 8, 2026, inclusive. The named defendants are Bloom Energy Corporation, KR Sridhar (Chief Executive Officer), Simon Edwards (Chief Financial Officer since April 13, 2026), Maciej Kurzymski (Acting Principal Financial Officer from May 2, 2025 until April 12, 2026), and Daniel Berenbaum (Chief Financial Officer from April 29, 2024 until May 1, 2025).

• Lead Plaintiff Deadline: September 28, 2026. This deadline applies only to investors seeking appointment as lead plaintiff. No action is required before the deadline to remain a potential class member.

• Company: Bloom Energy Corporation (NYSE: BE)

• Lead Plaintiff Deadline: September 28, 2026

• Class Period: February 27, 2025 - July 8, 2026

• Stock Drop: July 8, 2026 - BE fell $15.28 (5.7%) to $254.29

Introduction

A securities class action lawsuit has been filed against Bloom Energy Corporation and certain executives. The lawsuit seeks to represent investors who purchased or otherwise acquired Bloom Energy securities from February 27, 2025 through July 8, 2026.

The complaint alleges defendants made materially false and misleading statements about Bloom Energy's exposure to China. Investors were told the company was not dependent on China, including for scandium used in its fuel cells.

According to the complaint, Hunterbrook Media later alleged that Bloom Energy relied on Chinese scandium through several routes. After that report, BE fell $15.28, or 5.7%, to close at $254.29 per share.

Company Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid oxide fuel cell systems for on-site power generation in the United States and internationally. The complaint states that scandium, a rare earth metal, is used as a dopant to stabilize the zirconia-based ceramic electrolyte in the company's solid oxide fuel cells.

Class Period

February 27, 2025 - July 8, 2026

Investors who purchased or acquired Bloom Energy Corporation (BE) securities during the Class Period may be eligible to seek recovery under the federal securities laws.

Allegations

The complaint alleges that Bloom Energy and its senior executives made materially false and misleading statements about the company's supply chain during the Class Period. The central issue is scandium, a rare earth metal used in Bloom Energy's solid oxide fuel cells. Plaintiffs allege the company publicly minimized or denied China exposure while obtaining scandium through intermediaries who sourced the metal from China.

The alleged misstatements began on February 27, 2025, when Bloom Energy hosted an earnings call for its fourth quarter and full year 2024 results. Chief Executive Officer KR Sridhar stated that the company was "not dependent on China for a supply chain." Bloom Energy's Form 10-K filed the same day stated that its "supply chain does not have significant exposure to China" and repeated that China exposure was not significant even while discussing tariffs, trade tensions, and supply constraints.

The complaint cites further statements on April 30, 2025, when Sridhar told investors that Bloom Energy imported materials and components from abroad, "but not from China," and said "there is no China supply chain for us." He also stated, "we are not dependent on China for scandium." The company's Form 10-Q filed that day stated that its "supply chain is not dependent on China." Later SEC filings on July 31, 2025, October 28, 2025, and February 5, 2026 repeated similar supply chain representations, while the October and February filings added that China supplied rare earth metals or compounds used in tier 2 and tier 3 sub-assembly suppliers.

Plaintiffs also point to public comments outside SEC filings. In a September 12, 2025 Semafor interview, Sridhar allegedly said Bloom Energy had decided in 2004 not to depend on a Chinese supply chain. In a June 10, 2026 Wall Street Journal video interview, Sridhar responded "yes" when asked whether China was a notable country the company was not sourcing from, and said Bloom Energy had avoided China since 2005. The complaint alleges these statements failed to disclose that Bloom Energy obtained scandium through intermediaries who sourced from China, understated the company's China reliance, and lacked a reasonable basis.

The Truth Emerges

Hunterbrook Media published a report on July 8, 2026 titled "Bloom's Big Lie." According to the complaint, the report alleged that Bloom Energy was "reliant on Chinese scandium" based on global trade data, Chinese corporate filings, satellite imagery, and communications with Bloom Energy suppliers in China. Hunterbrook claimed it traced four separate China-linked routes into Bloom Energy's supply chain, including scandium oxide shipped directly to the company's Delaware plant and scandium-bearing ceramics and powders moving through Thailand, Japan, and South Korea.

The report allegedly identified Hunan Oriental Scandium as a major Chinese scandium producer and quoted a representative saying, "We are also BE's largest supplier of scandium." Hunterbrook also claimed trade data showed Hunan Oriental shipped scandium oxide directly to Bloom Energy in Newark, Delaware at least four times between August 2023 and May 2024. According to plaintiffs, those claims directly contradicted Bloom Energy's repeated statements that it did not have a China supply chain and was not dependent on China for scandium.

The complaint states that Hunterbrook described additional intermediary routes involving suppliers in Thailand, Japan, and South Korea. The report also cited energy industry experts and scandium suppliers to support its claim that a large portion of Bloom Energy's scandium supply still originated in China, even if routed through other countries. Plaintiffs allege these disclosures revealed the supply chain risk that defendants had concealed from investors.

Market Reaction

Following the Hunterbrook Media report on July 8, 2026, Bloom Energy's stock price fell $15.28, or 5.7%, to close at $254.29 per share. The complaint states that the decline occurred on unusually heavy trading volume.

Plaintiffs allege the drop reflected the market's reaction to the revelation that Bloom Energy may have relied on Chinese scandium despite repeated assurances that its supply chain was not dependent on China. The complaint also states that Bloom Energy's share price had closed at a Class Period high of $345.85 per share on June 22, 2026.

Next Steps

• Lead Plaintiff Deadline: September 28, 2026
• After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.
• Defendants may file a motion to dismiss.
• If the case proceeds, the Court may later consider class certification.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. No specific outcomes are guaranteed.