NEW YORK, March 14, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Fluence Energy, Inc. (NASDAQ: FLNC) and certain of the Company’s senior executives for potential violations of the federal securities laws.
If you invested in Fluence Energy, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/fluence-energy-inc.
Investors have until May 12, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Fluence Energy common stock. The case is pending in the U.S. District Court for the Eastern District of Virginia and is captioned Abramov v. Fluence Energy, Inc., et al., No. 25-cv-00444.
Why was Fluence Energy Sued for Securities Fraud?
Fluence Energy offers energy storage products and solutions, delivery services, recurring operational and maintenance services, and digital applications and solutions for energy storage and other power assets.
As alleged, Fluence Energy misrepresented the strength of its competitive position, sales pipeline, and backlog of orders. In reality, Fluence Energy concealed declines in its sales and earnings growth by engaging in aggressive revenue pull-forwards and selectively applied earnings adjustments.
The Stock Declines as the Truth is Revealed
On February 22, 2024, Blue Orca Capital issued a report revealing that Siemens Energy—an affiliate of one of the company’s founders and largest sources of revenue—filed a lawsuit accusing Fluence Energy of misrepresentations, breach of contract, and fraud. The Blue Orca report also revealed that much of Fluence Energy’s sales and earnings growth was the result of aggressive revenue pull-forwards and selectively applied earnings adjustments.
Then, on February 10, 2025, Fluence Energy issued a press release announcing its financial results for Q1 2025. Fluence Energy reported a net loss of $57 million, or $0.32 per share, with revenues falling 49% year-over-year, and lowered its revenue guidance for the remainder of the year. According to Fluence Energy, “[w]e have experienced customer-driven delays in signing certain contracts that, coupled with competitive pressures, result in the need to lower our fiscal year 2025 outlook.”
This news caused the price of Fluence Energy stock to decline 46%, to close at $7.00 per share on February 11, 2025.
Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/fluence-energy-inc.
What Can You Do?
If you invested in Fluence Energy you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/fluence-energy-inc
Or contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/fluence-energy-inc
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