According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Fluence’s relationship with its founders and largest sources of revenue, Siemens AG (“Siemens”) and The AES Corporation (“AES”), was poised to decline;
- Siemens Energy, Siemens AG’s U.S. affiliate, had accused Fluence of engineering failures and fraud;
- Fluence’s margins and revenue growth were inflated as Siemens and AES were moving to divest; and
- based on the foregoing, defendants lacked a reasonable basis for their positive statements related to Fluence’s battery energy storage business, as well as related financial results, growth, and prospects.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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