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Court Rules In Favor Of FuelCell Energy In POSCO Energy Litigation

FuelCell Energy Inc. (FCEL) said Monday that it has received a favorable ruling in a court case filed in the Court of Chancery in Delaware by POSCO Energy Co., Ltd.

On July 9, 2021, the Court issued a post-trial ruling denying POSCO Energy's summary statutory demand to inspect the company's books and records because POSCO Energy lacks a proper purpose.

FuelCell noted that the Court held that the totality of the circumstances, including the fact this was the seventh legal action POSCO Energy initiated against the company within the span of nine months, confirmed that POSCO Energy's purpose in initiating the books and records demand and filing the complaint was not proper.

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