Fluence Energy, Inc.

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Investigation Details

On February 22, 2024, Blue Orca Capital published a report alleging that Fluence failed to disclose to investors that Siemens Energy, the U.S. affiliate of Fluence’s largest shareholder and corporate parent, Siemens, had filed a lawsuit against it. According to the report, the lawsuit accuses Fluence of “a laundry list of embarrassing and costly engineering and design failures as well as knowingly false representations and omissions.” It further stated that the lawsuit explains why Fluence’s largest shareholder, Siemens, has ceased to be major customer and has begun to sell its shares. Blue Orca also claims that Fluence’s largest customer, AES, has grown “increasingly frustrated” with its current contract and is eager to use its “considerable leverage to negotiate better pricing.”

Following this news, Fluence’s stock price fell by $2.35 per share, or approximately 14% on the same day.