The lawsuit, Nevins v. Bloom Energy Corporation, pending in the Northern District of California, contends that the company misled shareholders about its supply chain. While Bloom Energy marketed its solid oxide fuel cell systems globally, the complaint alleges that the firm obscured its dependence on scandium sourced from China. This rare earth metal is critical for stabilizing the ceramic electrolytes used in the company’s power generation units.

The allegations surfaced following a July 8, 2026, report by Hunterbrook Media titled "Bloom’s Big Lie." The report claimed that investigators traced four distinct supply chains—including direct shipments to a Delaware plant and indirect routes through Thailand, Japan, and South Korea—linking the company to Chinese scandium producers. Following the report, Bloom Energy stock dropped nearly 6%. Robbins Geller Rudman & Dowd LLP is representing the investors, noting that those with the largest financial stake may be appointed as lead plaintiff to direct the litigation.