LOS ANGELES, April 01, 2025 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP reminds investors of the upcoming May 12, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Fluence Energy, Inc. (“Fluence” or the “Company”) (NASDAQ: FLNC) common stock between November 29, 2023 to February 10, 2025, inclusive (the “Class Period”).
IF YOU SUFFERED A LOSS ON YOUR FLUENCE INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.
What Happened?
On February 22, 2024, Blue Orca Capital published a report revealing that Fluence’s founders and largest sources of revenue, Siemens AG (“Siemens”) and The AES Corporation (“AES”) had been divesting their interest in Fluence and that the US affiliate of Siemens, Siemens Energy, had filed a lawsuit accusing Fluence of misrepresentations, breach of contract, and fraud. Additionally, the report stated that much of Fluence’s sales and earnings growth were the result of aggressive revenue pull-forwards and selectively applied earnings adjustments and, as a result, the Company’s reported revenues were unreliable and facing a sharp decline.
On this news, Fluence’s stock price fell $2.28, or 13.4%, to close at $14.73 per share on February 22, 2024, thereby injuring investors.
Then, on February 10, 2025, Fluence released its first quarter fiscal 2025 financial results, reporting a net loss of $57 million with revenues falling 49% year-over-year. The Company also significantly lowered its revenue guidance, stating that it “experienced customer-driven delays in signing certain contracts . . . coupled with competitive pressures[.]”
On this news, Fluence’s stock price fell $6.07, or 46.4%, to close at $7.00 per share on February 11, 2025, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Fluence’s relationship with its founders and largest sources of revenue, Siemens AG and The AES Corporation, was poised to decline; (2) Siemens Energy, Siemens AG’s U.S. affiliate, had accused the Company of engineering failures and fraud; (3) Fluence’s margins and revenue growth were inflated as Siemens and AES were moving to divest; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Fluence common stock during the Class Period, you may move the Court no later than May 12, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: shareholders@glancylaw.com
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.
If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact Us:
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Charles Linehan
Email: shareholders@glancylaw.com
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.
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