On Nov. 12, T1 Energy reported revenue and earnings below analyst estimates and updated its fiscal 2026 outlook. The company disclosed that the U.S. Securities and Exchange Commission is investigating its disclosures about federal tax credits. On Nov. 13, its shares fell more than 18% following disclosure of the probe. Law firm Block & Leviton launched an investigation into whether the company misled investors and is seeking affected investors to explore potential recovery options.
The company reported an investigation into its disclosures on 45X production tax credit eligibility as it negotiates financing for its Texas plant and faces operating losses.
Read the full storyThe company said the investigation covers eligibility for tax credits and certain accounting matters, while it cannot estimate its duration or outcome, as it reported third-quarter results.
Sales fell from the year-earlier quarter as the loss from continuing operations narrowed; the company is betting on 2027 contracts and a 5.3-gigawatt production plan alongside financing for its Austin plant.