SAN DIEGO — A new class action lawsuit initiated by Robbins Geller Rudman & Dowd LLP aims to represent shareholders of Fluence Energy, Inc., asserting that the company and its top executives have breached the Securities Exchange Act of 1934. The suit was filed in the Eastern District of Virginia under case number 25-cv-00444, targeting the alleged financial misconduct and misleading statements by the energy storage firm and its leadership.
Fluence Energy, recognized for its innovations in energy storage and optimization software, is currently under legal scrutiny. Shareholders who have incurred substantial losses and are interested in serving as lead plaintiff must submit their motion by May 12, 2025. Legal representation can be sought through attorneys J.C. Sanchez, Jennifer N. Caringal, or by contacting Robbins Geller directly.
The allegations claim that during the class period, Fluence Energy’s executive made false or misleading statements, particularly about its partnerships with Siemens AG and The AES Corporation, which were reported to be in decline. Additionally, Siemens Energy has levied accusations against Fluence Energy pertaining to engineering lapses and fraudulent activities.
Further complicating Fluence Energy’s predicament, an investigative report from Blue Orca Capital on February 22, 2024, highlighted undisclosed legal challenges lodged by Siemens Energy, including accusations of misrepresentation and breach of contract. Following this revelation, Fluence Energy’s stock plummeted by over 13 percent.
The situation seemed to worsen as, on February 10, 2025, Fluence Energy released its financial outcomes showing a net loss of $57 million for the first fiscal quarter, marking a significant increase from the $25.6 million loss recorded the previous year. This financial downturn was accompanied by a nearly 50% drop in year-over-year revenues and resulted in a subsequent 46% decline in stock value after the company adjusted its revenue expectations downwards.
Investors leading the charge in the class action have the right under the Private Securities Litigation Reform Act of 1995 to request appointment as the principal plaintiff. This role is typically reserved for the claimant with the largest financial interest and who sufficiently represents the class.
Robbins Geller Rudman & Dowd LLP, the firm spearheading the lawsuit, is renowned for its representation of investors in securities fraud and shareholder litigation. Ranked as a leading firm in securities class action recoveries, it has secured billions for investors, including achieving the largest securities class action settlement in history.
The outcomes of past cases handled by Robbins Geller are not indicators of future results, and potential plaintiffs are reminded that representation could be extended from any of its attorneys across various offices. Those affected or interested in learning more about the Fluence Energy lawsuit and other legal services may contact Robbins Geller for additional information.
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