FuelCell Energy Inc (NASDAQ:FCEL) Investor Investigation In Connection With Shareholder Vote Announced

If you are a current long-term stockholder of shares of FuelCell Energy Inc (NASDAQ:FCEL), you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
FuelCell Energy
Affected Securities: 
NASDAQ: FCEL

February 13, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of FuelCell Energy Inc (NASDAQ:FCEL) was initiated concerning whether certain FuelCell Energy officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain FuelCell Energy officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval for an amendment to the FuelCell Energy, Inc. Amended and Restated 2010 Equity Incentive Plan (the "Plan").

In the Proxy Statement filed by FuelCell Energy Inc with the Securities and Exchange Commission the Board of Directors recommends that FuelCell's shareholders vote to approve an amendment to the Plan to increase the aggregate number of shares of common stock reserved for issuance under the plan from 7,500,000 shares to 15,500,000 shares.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of FuelCell Energy Inc.

Shares of FuelCell Energy Inc (NASDAQ:FCEL) grew from under $1 per share in last 2012 to as high as $1.78 per share in late 2013.

Then on December 16, 2013, FuelCell Energy Inc reported its fourth quarter and fiscal year 2013 results and business highlights. FuelCell Energy Inc reported that its Total Revenue increased from $120.60 million for the 12 months period that ended on October 31, 2012 to $187.66 million for the 12 months period that ended on October 31, 2013, and that its Net Loss for those respective time periods declined from $35.49 million to $34.36 million.

NASDAQ:FCEL declined from to $1.86 per share on December 16, 2013 to $1.281 per share on December 24, 2013.

On February 13, 2014, NASDAQ:FCEL shares closed at $1.55 per share.