NEW YORK - February 11, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Fluence Energy, Inc. (“Fluence” or the “Company”) (NASDAQ: FLNC).
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If you are a Fluence investor and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
On February 22, 2024, Blue Orca Capital issued a report that alleges: “We are short Fluence Energy, Inc. (“Fluence” or the “Company”), because undisclosed to investors, the U.S. affiliate of its largest shareholder and corporate parent, Siemens, has a filed a lawsuit accusing Fluence of a laundry list of embarrassing and costly engineering and design failures, false representations, and most notably fraud.” The report further alleges “[u]ltimately, we think Fluence is facing a perfect storm of crushing lawsuits, angry customers, major shareholders withdrawing generous subsidies, massive insider dumping and a tidal wave of coming dilution.”
Following this news, the price of Fluence stock fell $2.28 per share, or over 13%, to close at $14.73 per share on February 22, 2024.
On August 7, 2024, Fluence disclosed in the Company’s quarterly filing with the U.S. Securities and Exchange Commission (“SEC”), that “the SEC is conducting a formal investigation and asking for certain information regarding the Company’s financial reporting.” Further, the SEC filing states “[b]ased on the information requested by the SEC, we believe that the SEC is reviewing the Company’s revenue recognition practices, a previously-disclosed material weakness in internal controls, capitalization of internal-use software costs, as well as certain service contracts with related parties.”
Then on February 10, 2025, after markets closed, the Company announced its 2025 first quarter results, including a 49% year-over-year revenue decline and significantly lowered 2025 revenue guidance to a range of $3.1 billion to $3.7 billion from its prior guidance of $3.6 billion to $4.4 billion. The lower 2025 guidance was attributed to “customer-driven delays in signing certain contracts [] coupled with competitive pressures.”
On this news, the price of Fluence stock fell $6.63, or over 49%, during intraday trading on February 11, 2025.
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If you have any questions about this investigation, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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