Press release
Investigation announced for Investors in shares of Siemens Energy AG (OTC: SMNEY) over possible Violations of Securities Laws
An investigation for investors in Siemens Energy AG (OTC: SMNEY) shares over potential securities laws violations by Siemens.
Investors who purchased shares of Siemens Energy AG (OTC: SMNEY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Siemens Energy AG (OTC: SMNEY) concerning whether a series of statements by Siemens Energy AG regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On June 23, 2023, Siemens Energy AG 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.
Shares of Siemens Energy AG (OTC: SMNEY) declined from $26.44 per share on May 30, 2023 to $7.21 per share on October 26, 2023.
Those who purchased shares of Siemens Energy AG (OTC: SMNEY) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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