Bloom Energy Faces Class Action Lawsuit Over Scandium Supply Chain
Investors have launched a securities class action against Bloom Energy Corporation, alleging the company misled shareholders regarding its dependence on Chinese scandium. The lawsuit, filed by Robbins LLP, claims the firm repeatedly denied reliance on Chinese suppliers while purportedly using intermediaries to source the critical rare earth metal.
The litigation targets the period between February 27, 2025, and July 8, 2026. During this window, Bloom Energy executives, including leadership, consistently maintained that their supply chain lacked significant exposure to China. Notably, in a 2025 earnings call and subsequent media appearances, the company stated it avoided Chinese supply chains to ensure operational independence.
The allegations stem from a report by Hunterbrook Media titled "Bloom's Big Lie," which identified four trade routes suggesting the company continued receiving scandium sourced from China through intermediaries. Following the report's release, Bloom Energy shares dropped 5.7%, or $15.28 per share, closing at $254.29 on July 8, 2026. Investors who suffered losses during the class period have until September 28, 2026, to seek appointment as lead plaintiff in the case.
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