OAKLAND, Calif.-Gibbs Law Group continues to investigate a potential Fluence Securities Class Action Lawsuit on behalf of shareholders who lost money in Fluence Energy, Inc. (NASDAQ: FLNC). Shares of Fluence dropped as much as 21% in intraday trading on February 22, 2024, after market analyst Blue Orca Capital issued a report claiming Fluence failed to disclose to investors that Siemens, the U.S. affiliate of Fluence’s largest shareholder and corporate parent, had filed a lawsuit against Fluence alleging “fraud” and “a laundry list” of other misconduct.
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What Should Fluence Investors Do?
If you invested in Fluence, visit our website by clicking here, or call us toll-free at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Fluence has violated federal securities laws by providing false or misleading statements to investors.
What is the Fluence Securities Lawsuit Investigation About?
On February 22, 2024, Blue Orca Capital issued a report claiming Fluence failed to disclose to investors that Siemens, the U.S. affiliate of Fluence’s largest shareholder and corporate parent, had filed a lawsuit against Fluence alleging various forms of misconduct. According to Blue Orca Capital, the lawsuit by Siemens accuses Fluence of “a laundry list of embarrassing and costly engineering and design failures, false representations, and most notably fraud.” Following the release of the report, the stock dropped as much as 21% in intraday trading on February 22nd, causing harm to investors.
Then, on May 8, 2024, Fluence released fiscal results for the three and six months ended March 31, 2024. The company reported revenue of approximately $623.1 million, which represented a decrease of approximately 11% year-over-year and fell short of estimates. Following the release of Fluence’s financial results, Guggenheim downgraded its outlook for the company from Buy to Neutral on June 6, 2024.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
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Contacts
EILEEN EPSTEIN
510.350.9728
EJE@CLASSLAWGROUP.COM
