Fluence Energy(FLNC) Prnewswire·2025-04-16 08:59Core Viewpoint - Fluence Energy, Inc. is facing a class action lawsuit due to allegations of misleading statements and undisclosed product defects that have led to significant financial losses for investors [1][3][4]. Company Overview - Fluence Energy is a global provider of energy storage products and services, focusing on renewable energy and storage solutions [2]. Allegations and Issues - The class action lawsuit claims that Fluence Energy's energy storage products had design and operational defects, which were not adequately addressed, leading to overstated financial performance metrics [3]. - Specific allegations include failures in product design, installation, and maintenance, as well as issues with warranty obligations [3]. - A report highlighted significant defects in Fluence Energy's Diablo project, including slow response times and multiple system failures, which resulted in a stock price drop of over 15% [4]. Financial Performance and Stock Impact - Fluence Energy's financial guidance for fiscal 2025 was initially set between 4.4 billion, but was later revised down to a range of 3.7 billion, reflecting a reduction of approximately 187 million, which missed consensus estimates by nearly 48%, leading to a stock price decline of more than 52% over three days [7]. - The annual revenue guidance for fiscal 2025 indicated that only 65% was covered by the current backlog, suggesting a need for new orders to meet targets [6]. Legal Proceedings - The class action lawsuit is led by Robbins Geller Rudman & Dowd LLP, which has a strong track record in prosecuting investor class actions related to financial fraud [8][10]. - Investors who purchased Fluence Energy Class A common stock during the class period have until May 12, 2025, to seek appointment as lead plaintiff in the lawsuit [1][9].