NEW YORK CITY, NY / ACCESS Newswire / October 23, 2026 / Levi & Korsinsky, LLP notifies investors in FuelCell Energy, Inc. (NASDAQ: FCEL) that a class action has been filed on behalf of shareholders who purchased securities between June 24, 2026 and September 1, 2026. Find out if you might qualify for recovery. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

FuelCell operated at an annualized production rate of approximately 37.1 MW during fiscal third quarter 2026 and recorded $17.0 million in charges tied to inventory and firm purchase commitments under Phase 0 of the Fit Energy capital equipment purchase agreement. Gross loss reached $(24.5) million on revenue of $33.0 million, and FCEL shares fell $2.68, or 15.69%, to close at $14.40 on September 2, 2026. Motions for lead plaintiff must be filed with the Court by November 10, 2026.

The Alleged 37.1 MW Production Rate Shortfall

Fuel cell manufacturing economics depend on absorbing fixed overhead across enough delivered megawatts to bring per-unit costs down to contracted prices. FuelCell reported that its per-unit product costs and absorbed fixed manufacturing overhead "reflect the annualized production rate of approximately 37.1 MW at which we operated during the quarter, which remains below the production volume at which we expect our cost structure to align with market-based pricing for orders of this scale."

Manufacturing Throughput and the Fit Energy Phase 0 Commitment

The June 24, 2026 announcement described up to 380 MW of fuel cell power, with an immediate deposit for a committed 30 MW Phase 0 scheduled to begin delivery later that year. As set forth in the complaint, the slower-than-required production rate meant product costs and manufacturing overhead were running above the contractual pricing established under the agreement, a trend plaintiffs allege was affecting profitability and was reasonably likely to produce charges before shareholders were told.

Alleged Production Shortfall Impact by the Numbers

• Annualized production rate of approximately 37.1 MW during the fiscal third quarter
• $17.0 million in charges attributed to Phase 0 inventory and firm purchase commitments
• Gross loss of $(24.5) million, an increase of approximately 377% from the prior year period
• Revenue of $33.0 million, a decrease of approximately 29% year over year
• Net loss of $45.3 million, or $(0.64) per share
• Stated Torrington maximum annualized capacity of 100 MW per year under its current configuration

"The complaint raises serious questions about whether investors received accurate information about FuelCell's ability to manufacture at the rate its Fit Energy commitment required. An insufficient manufacturing capacity outputting a depressed production rate of approximately 37.1 MW, paired with a $17.0 million charge on Phase 0 inventory and purchase commitments, is precisely the operational detail shareholders allege should have been addressed before they bought in." -- Joseph E. Levi, Esq.

Submit your information now or call (212) 363-7500.

WHY LEVI & KORSINSKY - Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until November 10, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the FCEL Lawsuit

Q: How much did FCEL stock drop?
A: Shares fell approximately 15.69%, a decline of $2.68 per share, after the Company disclosed fiscal third quarter 2026 results including a $17.0 million charge and an annualized production rate below the volume needed for its cost structure to align with contracted pricing. Investors who purchased shares during the Class Period at artificially inflated prices and suffered losses may be eligible to seek compensation.

Q: What specific misstatements does the FCEL lawsuit allege?
A: The complaint alleges FuelCell Energy, Inc. made materially false or misleading statements or otherwise omitted known information regarding the adequacy of its manufacturing capacity to generate the production rate required under the Fit Energy agreement, and the likelihood of incurring the resulting product cost and manufacturing overhead increases.

Q: When did FuelCell Energy allegedly mislead investors?
A: The Class Period runs from June 24, 2026 to September 1, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What do FCEL investors need to do right now?
A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What documents do I need to to submit my information?
A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my FCEL shares -- can I still recover losses?
A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What does it cost me to participate?
A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

Q: Do I need to go to court or give testimony?
A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

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CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE: Levi & Korsinsky, LLP