Fluence Energy, Inc. (NASDAQ: FLNC)

This lawsuit is for anyone who acquired securities in Fluence Energy, Inc. (NASDAQ: FLNC) from November 29, 2023 through February 10, 2025.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by issuing guidance without a reasonable basis for the positive guidance considering that unbeknownst to investors, Fluences relationship with its founders and largest sources of revenue, Siemens AG and The AES Corporation was declining to the point that Siemens Energy, Siemens AGs U.S. affiliate, had accused the Company of engineering fraud.

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 AEG Corporation (“AEG”) 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, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. 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, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Fluence Energy, Inc. (NASDAQ: FLNC) from November 29, 2023 through February 10, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.