The complaint, filed in the United States District Court for the Southern District of New York, centers on the period between November 24, 2025, and September 16, 2026. Plaintiffs allege that CEO Julian Jose Nebreda Marquez and CFO Ahmed Pasha failed to disclose that contract manufacturing facilities, essential to meeting the company’s delivery backlog, were either incomplete or incapable of handling projected volumes. Fluence shares experienced significant price drops on three separate occasions following disclosures regarding these production delays.

Legal counsel from Levi & Korsinsky, LLP, is leveraging Section 20(a) of the Securities Exchange Act to seek personal accountability from the executives. The suit argues that because Nebreda and Pasha oversaw the company's SEC filings and public statements, they held the power to prevent the dissemination of inaccurate information. The legal challenge questions the validity of Sarbanes-Oxley certifications provided by the pair, which claimed no material changes to risk factors during a period when the company’s operational readiness was allegedly compromised.