NEW YORK, NY / ACCESSWIRE / March 1, 2024 / Pomerantz LLP is investigating claims on behalf of investors of 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, ext. 7980.
The investigation concerns whether Fluence and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 22, 2024, Blue Orca Capital issued a report (the "Blue Orca Report") alleging that Fluence had failed to disclose to investors that the U.S. affiliate of its largest shareholder and corporate parent, Siemens, has filed a lawsuit accusing Fluence of a litany of embarrassing and costly engineering and design failures, false representations, and fraud. The Blue Orca Report also predicted that, given the Company's historically heavy cash burn and diminishing support from its frustrated corporate parents, Fluence is likely to engage in dilutive equity issuances to shore up its cash position.
On this news, Fluence's stock price fell $2.28 per share, or 13.4%, to close at $14.73 per share on February 22, 2024.
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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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