Investors filed a securities class-action lawsuit against Bloom Energy for allegedly misleading the market about its supply chain.
The complaint claims Bloom failed to disclose its reliance on Chinese suppliers for scandium. This rare earth metal is a critical component for the company's fuel cell systems. Bloom previously stated it had no significant exposure to China.
The legal action follows a July 8, 2026, report from short-seller Hunterbrook Media. The report alleges Bloom sources scandium from China through multiple intermediaries.
Bloom Energy's stock price dropped 5.7% on July 8 following the report. The lawsuit covers investors who purchased securities between February 27, 2025, and July 8, 2026.