NEW YORK, May 09, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Fluence Energy, Inc. (“Fluence” or the “Company”) (NASDAQ: FLNC). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Fluence and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until May 12, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Fluence securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 22, 2024, Blue Orca Capital issued a report revealing that Siemens and AES had been divesting their interest in Fluence and that Siemens Energy, the U.S. affiliate of Siemens, filed a lawsuit in November 2023 accusing Fluence of misrepresentations, breach of contract, and fraud. The Blue Orca report also revealed that while Fluence appeared to steadily move towards generating positive earnings, much of its sales and earnings growth were the result of aggressive revenue pull-forwards and selectively applied earnings adjustments. As a result, Fluence’s reported revenues were revealed to be unreliable and facing a sharp decline as a result of the diminishing support from Siemens and AES.
On this news, Fluence’s stock price fell $2.28 per share, or 13.43%, to close at $14.73 per share on February 22, 2024.
Then, on February 10, 2025, Fluence issued a press release announcing its 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, Fluence’s stock price fell $6.07 per share, or 46.44%, to close at $7.00 per share on February 11, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
646-581-9980 ext. 7980
