Robbins LLP Files Class Action Complaint Against Fluence Energy, Inc. (FLNC)

Shareholder rights law firm Robbins LLP informs investors it has filed a class action lawsuit on behalf of all purchasers of Fluence Energy, Inc. ("Fluence") (NASDAQ: FLNC) Class A stock between October 28, 2021 and February 10, 2025 (the "Class Period"). The complaint alleges violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and U.S. Securities and Exchange Commission Rule 10b-5, promulgated thereunder. The complaint seeks relief on behalf of the named plaintiff and all other similarly situated holders of Fluence during the Class Period.  The named plaintiff is represented by Robbins LLP.

The Allegations

Fluence is a global provider of battery-based energy storage products, services, and artificial intelligence-enabled digital applications for renewable energy storage.  Fluence is a holding company and conducts all its business through Fluence Energy, LLC.  Fluence Energy, LLC was established in 2018 as a joint-venture between AES and Siemens Industry, Inc., an indirect subsidiary of Siemens AG (collectively referred to herein as “Siemens”). In October 2021, AES and Siemens took Fluence public in an initial public offering (the “IPO”).

The Fluence class action lawsuit alleges that throughout the Class Period, Defendants made false and/or misleading statements because they failed to disclose the following adverse facts pertaining to the Company's business, operations, and financial condition, which were known to defendants or recklessly disregarded by them as follows: (a) that a material portion of Fluence’s energy storage products suffered from defective design, installation, operational, and/or maintenance issues; (b) that Fluence had repeatedly failed to adequately address known product defects and installation errors, and/or failed to honor outstanding warranty obligations the Company owed to its customers; (c) that the efficacy and safety of Fluence’s energy storage products and the Company’s ability to timely deliver projects to its customers’ satisfaction had been materially overstated; (d) that as a result of (a)-(c), Fluence’s adjusted EBITDA, adjusted gross profit, and adjusted gross profit margins were artificially inflated throughout the Class Period; and (e) that as a result of (a)-(d), Fluence was exposed to material undisclosed risks of reputational and financial harm, including through loss of business from current and/or prospective clients.

When the truth of Fluence's deficiencies came to light, the stock price fell, harming investors. Following a series of disclosures, the price of Fluence Class A common stock declined more than 80% from highs of more than $39 per share during the Class Period to roughly $6 per share following the end of the Class Period.

Next Steps: If you purchased or otherwise acquired Fluence Energy, Inc. Class A stock between October 28, 2021 and February 10, 2025, and wish to serve as lead plaintiff, you have up to May 12, 2025, to ask the court to appoint you as the lead plaintiff for the class. 

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact attorney Aaron Dumas, Jr. of Robbins LLP at (800) 350-6003, via email, or via the shareholder information form on our website. Any member of the class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. A copy of the complaint can be found here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.