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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
January 25, 2000
PLUG POWER INC.
(Exact name of Registrant as specified in its charter)
DELAWARE 00027527 22-3672377
(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification No.)
968 ALBANY-SHAKER ROAD
LATHAM, NY 12110
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code:
(518) 782-7700
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ITEM 5. OTHER EVENTS.
As previously disclosed in a Form 8-K filed with the Securities and
Exchange Commission on November 16, 1999, Plug Power Inc. received a letter in
November 1999 threatening litigation against it and other parties by DCT, Inc.
On January 25, 2000, a complaint was filed by DCT, Inc. against Plug Power Inc.,
The Detroit Edison Company and Edison Development Corporation in the Wayne
County, Michigan Circuit Court. The complaint alleges, among other things, that
the Company, The Detroit Edison Company and Edison Development Corporation
misappropriated from DCT business and technical trade secrets, ideas, know-how
and strategies relating to fuel cell systems and breached certain contractual
obligations owed to DCT. Plug Power believes that the allegations made against
it are without merit and intends to vigorously contest the litigation, but the
ultimate outcome of any litigation is of course uncertain.
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This Form 8-K may include statements which are not historical facts and are
considered "forward-looking" within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements reflect Plug
Power's current views about future events and financial performance. These
forward-looking statements are identified by their use of terms and phrases such
as "believe," "expect," "plan," "anticipate," and similar expressions
identifying forward-looking statements. Investors should not rely on
forward-looking statements because they are subject to a variety or risks,
uncertainties, and other factors that could cause actual results to differ
materially from Plug Power's expectations, and Plug Power expressly does not
undertake any duty to update forward-looking statements. These factors include,
but are not limited to, the following: (i) the cost of development and market
acceptance of Plug Power's fuel cell systems, (ii) competitive factors, such as
price competition and new product introductions, (iii) the cost and availability
of products, (iv) the cost of complying with current governmental regulations,
(v) unanticipated expenses or delays in resolving Year 2000 computer issues by
either Plug Power or those with whom Plug Power does business, and (vi) other
factors detailed from time to time in Plug Power's filings with the Securities
and Exchange Commission.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PLUG POWER INC.
Date: January 28, 2000 By: /s/ William H. Largent
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William H. Largent
Chief Financial Officer
(Principal Financial and
Accounting Officer)
