SAN DIEGO, March 31, 2025 (GLOBE NEWSWIRE) — Robbins LLP reminds stockholders that a class action was filed on behalf of those who purchased or otherwise acquired Fluence Energy, Inc. (NASDAQ: FLNC) securities between November 29, 2023 and February 10, 2025. Fluence, through its subsidiaries, 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.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Fluence Energy, Inc. (FLNC) Misled Investors Regarding its Corporate Relationships and Manipulative Accounting Practices
According to the complaint, during the class period, 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) based on the foregoing, defendants lacked a reasonable basis for their positive statements related to Fluence’s battery energy storage business, as well as related financial results, growth, and prospects.
The complaint alleges that on February 10, 2025, Fluence issued a press release announcing disappointing financial results for the first quarter of its fiscal year 2025. Fluence reported a net loss of $57 million, or $0.32 per share, compared to a loss of $25.6 million, or $0.14 per share, for the same period in the prior year, with revenues falling 49% year-over-year to $186.8 million. For fiscal year 2025, Fluence lowered its revenue guidance to a range of $3.1 billion to $3.7 billion, from its prior outlook of $3.6 billion to $4.4 billion, and stated “[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.” On this news, the price of Fluence stock fell $6.07 per share, or 46.44%, to close at $7.00 per share on February 11, 2025.
What Now: You may be eligible to participate in the class action against Fluence Energy, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by May 12, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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