Fluence says SEC conducting formal investigation after short-seller report

In a regulatory filing published in conjunction with the company’s Q3 report, Fluence Energy stated: “On February 22, 2024, as we previously disclosed, a short-seller report was published about the Company. In response to the Short Seller Report, the Audit Committee of the Company’s Board of Directors completed an internal investigation, with the assistance of outside counsel and forensic accountants, into the allegations in the Short Seller Report. The Company has been informed that the SEC is conducting a formal investigation and asking for certain information regarding our financial reporting. The Company intends to fully cooperate with the SEC’s investigation. While we are unable to predict the likely outcome of this matter or the potential cost, exposure or duration of the process, based on the information we currently possess, we do not expect the total potential cost to be material to our financial condition.”