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Siemens Energy threatened with fraud action

Richard Heap
September 25, 2023

Siemens Energy has been threatened with a class action lawsuit in the US by Gross Law Firm over claims of potential securities fraud.

Gross said it is investigating claims of securities fraud on behalf of Siemens shareholders after Siemens withdrew its profit guidance for the 2023 financial year in June, due to technical problems in its turbine manufacturing arm Siemens Gamesa. This led to a 27% drop in the company's share price.

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