The Department of Energy withheld troubling cost and performance data on a major stimulus award from a federal watchdog before the company servicing the award went bankrupt, according to a report released on Tuesday.
Taxpayer-backed green energy company ECOtality filed for chapter 11 bankruptcy protection on Monday following weeks of turmoil in which the company laid off employees and ceased filling orders for its electric vehicle charging stations.
A taxpayer-backed green energy company teetering on the edge of bankruptcy laid off dozens of employees on Friday, including all remaining employees in its industrial division.
Investors filed a class action lawsuit against a stimulus-backed green energy company on Thursday alleging that company executives misled them about the financial health of the firm, which last week laid off part of its workforce.
The Energy Department is defending its decision to award nearly $100 million to a major green energy company that has been investigated by two federal agencies and says it may be forced to declare bankruptcy.
The U.S. Department of Energy (DOE) has suspended stimulus payments to a major green energy company after the company said it is having trouble finding financing and may have to declare bankruptcy.
A congressional panel has found that it takes a lot of political clout to obtain subsidies for electric vehicles under the Obama administration.
