Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Eastern District of Virginia on behalf of shareholders of Fluence Energy, Inc. who purchased shares between November 29, 2023 and February 10, 2025.
Fluence and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 10, 2025, the Company announced its financial results for 1Q 2025, disclosing a net loss of $57 million, or $0.32 per share, compared to a loss of $25.6 million, or $0.14 per share, for the same period in the prior year, revenues down 49% year-over-year to $186.8 million, and decreased revenue guidance for fiscal year 2025, to a range of $3.1 billion to $3.7 billion, from its prior outlook of $3.6 billion to $4.4 billion, due to “customer-driven delays in signing certain contracts that, coupled with competitive pressures, result in the need to lower our fiscal year 2025 outlook.”
On this news, the price of Fluence’s shares fell $6.07 per share, or 46.44%, to close at $7.00 per share on February 11, 2025.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 12, 2025 to request that the court appoint them lead plaintiff.