Blue Orca short Fluence Energy, says yet to disclose ’embarrassing’ lawsuit

Blue Orca announced it is short Fluence Energy, telling investors that “undisclosed to investors, the U.S. affiliate of its largest shareholder and corporate parent, Siemens, has a filed a lawsuit accusing Fluence of a laundry list of embarrassing and costly engineering and design failures, false representations, and most notably fraud. Incredibly, Fluence has yet to disclose this ongoing lawsuit to investors. News has not leaked as the claim is not readily available on PACER.” The short-selling firm sees a “financially untenable situation for Fluence” as it claims to have learned from a former Fluence employee that “AES, Fluence’s other corporate parent and its largest customer, is frustrated with its current contract with Fluence and is eager to use its size and leverage to obtain better pricing.”