According to the lawsuit, throughout the Class Period, Defendants misled investors as to the fact that Fluence’s relationship with its founders and largest sources of revenue, Siemens AG and The AES Corporation, was poised to decline. Siemens had accused Fluence of engineering failures and fraud, and given that Siemens and AES had taken steps to divest, Fluence’s margins and revenue growth were artificially inflated.

The suit alleges that investors first began to learn the truth on February 22, 2024, when Blue Orca Capital issued a report revealing that Siemens had sued Fluence for misrepresentation, breach of contract, and fraud.

On this news, the price of Fluence common stock fell more than 13%, or $2.28 per share, from a closing price of $17.01 per share on February 21, 2024 to a close of $14.73 per share on February 22, 2024.

Then, on February 10, 2025, Fluence disclosed its financial results for Q1 fiscal 2025, reporting a net loss of $57 million with revenues falling 49% year-over-year. Worse, the Company significantly lowered revenue guidance.

On this news, the price of Fluence Energy common stock fell $6.07 – or more than 46% – from a close of $13.07 on February 10, 2025 to a close of $7.00 on February 11.

Investors who purchased or acquired Fluence Energy's securities between October 28, 2021 through February 10, 2025, may no later than May 12, 2025, seek to be appointed as a lead plaintiff representative of the class.