Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against Fluence Energy, Inc. (FLNC)

/EIN News/ -- NEW YORK, March 12, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of Virginia on behalf of all persons or entities who purchased or otherwise acquired Fluence Energy, Inc. (“Fluence Energy” or the “Company”) (NASDAQ: FLNC) securities between November 29, 2023 and February 10, 2025, inclusive (the “Class Period”).

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s relationship with its founders and largest sources of revenue, Siemens AG (“Siemens”) and The AES Corporation (“AES”), was poised to decline; (ii) Siemens Energy, Siemens AG’s U.S. affiliate, had accused the Company of engineering failures and fraud; (iii) the Company’s margins and revenue growth were inflated as Siemens and AES were moving to divest; and (iv) based on the foregoing, Defendants lacked a reasonable basis for their positive statements related to the Company’s battery energy storage business, as well as related financial results, growth, and prospects. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Fluence Energy should contact the Firm prior to the May 12, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.