NEW YORK, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Siemens Energy AG:
On June 23, 2023, Siemens announced it was withdrawing its profit guidance for fiscal year 2023 due to a “substantial increase in failure rates of wind turbine components” at newly acquired Siemens Gamesa (SGRE). After an “extended technical review”, the Company expects additional costs to be in excess of approximately 1 billion Euros. Siemens further indicated an increase in product costs and ramp-up challenges in the off-shore business. Following this news, the Company’s share price fell by $5.87 per share, or approximately 27% to close at $15.88 per share.
Due to the forgoing, The Gross Law Firm is investigating potential securities fraud claims on behalf of certain Siemens investors. If you incurred a loss on your SMNEY investment, please contact us using the link below to discuss your rights.
https://securitiesclasslaw.com/securities/siemens-loss-submission-form/?id=52863&from=3
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
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Email: dg@securitiesclasslaw.com
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