Fluence Energy, Inc.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: Fluence Energy, Inc. |
Ticker: | Ticker: FLNC |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against Fluence Energy, Inc. (“Fluence” or the “Company”) (NASDAQ:FLNC). The investigation concerns whether Fluence and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On February 22, 2024, Blue Orca Capital published a report alleging that “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 alleged that as of Fluence’s most recent 10-Q, a breach of contract lawsuit filed by subcontractor Dashiell Corporation went also undisclosed. On this news, the price of Fluence shares declined by $2.28 per share, or approximately 13.4%, from $17.01 per share on February 21, 2024 to close at $14.73 on February 22, 2024.
On February 22, 2024, Blue Orca Capital published a report alleging that “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 alleged that as of Fluence’s most recent 10-Q, a breach of contract lawsuit filed by subcontractor Dashiell Corporation went also undisclosed. On this news, the price of Fluence shares declined by $2.28 per share, or approximately 13.4%, from $17.01 per share on February 21, 2024 to close at $14.73 on February 22, 2024.