--- title: "T1 Energy Shares Slide After Fuzzy Panda Alleges Management Misled Investors" type: "News" locale: "en" url: "https://longbridge.com/en/news/289361557.md" description: "T1 Energy shares dropped sharply after short-seller Fuzzy Panda Research alleged the company misled investors regarding supply chain compliance. The report cites invoices showing T1 purchased over $65 million in solar cells from Trina Solar, contradicting claims of shifting to non-Chinese suppliers. This potentially violates U.S. FEOC rules for tax credits, which could force a reversal of $41.4 million in credits, turning adjusted EBITDA into a loss." datetime: "2026-06-10T17:22:56.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289361557.md) - [en](https://longbridge.com/en/news/289361557.md) - [zh-HK](https://longbridge.com/zh-HK/news/289361557.md) generator: "portal-rs" --- # T1 Energy Shares Slide After Fuzzy Panda Alleges Management Misled Investors Shares of **T1 Energy Inc** (NYSE:TE) are falling sharply on Wednesday after short-seller **Fuzzy Panda Research** published a report alleging the solar manufacturer misled investors about its supply chain compliance. The report is a follow-up to Fuzzy Panda’s May 19 findings, though TE shares are still up roughly 15% since that last publication as of Wednesday afternoon. Benzinga has reached out to T1 Energy for comment. - T1 Energy stock is feeling bearish pressure. What’s behind TE decline? ## T1 Energy Invoices Allegedly Tie Solar Cells To Trina Solar Fuzzy Panda, which holds a disclosed short position in TE, claims a whistleblower provided 26 invoices showing T1 purchased more than $65 million in solar cells from China’s **Trina Solar** during the first quarter of 2026, the same period in which multiple company executives publicly stated the firm had stopped buying from Trina and shifted to four non-Chinese, FEOC-compliant suppliers. ## Why T1 Energy’s FEOC Compliance Status Could Erase Its Profits The distinction matters enormously for T1’s bottom line. Under U.S. FEOC rules tied to the 45X tax credit program, solar manufacturers must source less than 50% of material costs from prohibited foreign entities. Because solar cells represent the bulk of T1’s bill of materials, Fuzzy Panda argues the company’s Material Assistance Cost Ratio sits at just 19%, well below the required 50% threshold. ## Report Claims $41.4M in Tax Credits Should Be Reversed The report contends that the $41.4 million in 45X tax credits T1 booked in Q1 2026 would need to be reversed, flipping adjusted EBITDA from a reported positive $9.1 million to a loss of $32.3 million. Trina Solar was also added to the U.S. Department of War’s list of Chinese military companies operating in the United States just two days before the report’s publication. ## TE Shares Slide Wednesday Afternoon **TE Price Action:** T1 Energy shares were down 6.50% at $7.91 at the time of publication on Wednesday, according to Benzinga Pro data. **Read Also: Anthropic's Growth Is Exploding. Palantir Says That's Exactly The Problem** *Image: Shutterstock* ### Related Stocks - [TE.US](https://longbridge.com/en/quote/TE.US.md) - [688599.CN](https://longbridge.com/en/quote/688599.CN.md) - [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md) - [SSTK.US](https://longbridge.com/en/quote/SSTK.US.md) - [TE+.US](https://longbridge.com/en/quote/TE+.US.md) ## Related News & Research - [03:28 ETTrinasolar Retains Tier 1 Status for Both PV Modules and Energy Storage Systems on S&P Global Cleantech Companies List 2026](https://longbridge.com/en/news/297140329.md) - [04:00 ETTrina Storage to Launch Next-Generation Elementa + Electra Solution at Middle East Energy 2026](https://longbridge.com/en/news/297617199.md) - [Tesla Just Killed Its Solar Roof After Years of Struggling to Scale. What It Means for TSLA Stock.](https://longbridge.com/en/news/297436824.md) - [Tesla Stopped Reporting Solar Numbers 10 Quarters Ago. Now the Solar Roof Is Gone, Too.](https://longbridge.com/en/news/297747541.md) - [Windon Energy corrects Q2 2026 report after attaching Q1 2026 file in prior release](https://longbridge.com/en/news/297137963.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**