Fluence Energy, AES Bat Away Securities Fraud Claims Over Ties

Fluence Energy Inc. investors can’t proceed with a proposed class action alleging the battery maker and AES Corp. concealed Fluence’s deteriorating customer relationships, including with AES, a federal court ruled Tuesday.

The investors failed to establish an actionable misrepresentation or omission, Judge Patricia Tolliver Giles said for the US District Court for the Eastern District of Virginia. They also didn’t establish the necessary level of intent for securities fraud, but will have a chance to re-plead, she said.

• The complaint alleged Fluence’s relationships with founders and top customers Siemens AG and AES were deteriorating on accusations of fraud and battery ...