Fluence Energy(US:FLNC) GlobeNewswire News Room·2025-04-30 21:20Core Viewpoint - A class action lawsuit has been filed against Fluence Energy, Inc. for alleged violations of securities laws during the Class Period from October 28, 2021, to February 10, 2025, due to misleading statements regarding the company's business and financial condition [1][3]. Group 1: Company Overview - Fluence Energy, Inc. is a global provider of battery-based energy storage products and services, as well as AI-enabled digital applications for renewable energy storage [2]. - The company was established in 2018 as a joint venture between AES and Siemens Industry, Inc., and went public in October 2021 [2]. Group 2: Allegations in the Lawsuit - The lawsuit alleges that Fluence made false and misleading statements by failing to disclose significant issues with its energy storage products, including defective design and installation problems [3]. - It is claimed that Fluence did not adequately address known product defects and installation errors, nor did it honor warranty obligations to customers [3]. - The efficacy and safety of Fluence's products, as well as the company's ability to deliver projects satisfactorily, were allegedly overstated, leading to inflated financial metrics such as adjusted EBITDA and gross profit margins [3]. Group 3: Impact on Stock Price - Following the revelation of these deficiencies, Fluence's stock price fell over 80%, dropping from more than $39 per share to approximately $6 per share [4].