Core Viewpoint - Fluence Energy, Inc. is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements and undisclosed product defects impacting its financial performance and reputation [1][3]. Company Allegations - The lawsuit alleges that Fluence Energy's energy storage products had significant design and operational defects, which were not adequately addressed, leading to inflated financial metrics [3]. - Specific issues cited include defective product designs, failure to honor warranty obligations, and overstated efficacy and safety of products [3]. Project Issues - The Diablo project faced numerous defects, including slow response times in project control systems and multiple failures of inverters, leading to operational inefficiencies and safety risks [4]. - Fluence Energy delivered the Diablo project eight months late and failed to resolve warranty claims in a timely manner, contributing to a significant drop in stock price [4]. Financial Performance - In the fourth quarter of 2024, Fluence Energy projected annual revenue for fiscal 2025 between 4.4 billion, but only 65% of this was backed by current contracts, indicating a need for new orders [6]. - The company later revised its fiscal 2025 revenue guidance down to a range of 3.7 billion, a reduction of approximately 187 million, missing consensus estimates by nearly 48%, leading to a significant decline in stock price [7].
FLNC INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Fluence Energy, Inc. Investors with Substantial Losses Have Opportunity to Lead Securities Class Action Lawsuit