An investigation for investors in Siemens Energy AG (OTC: SMNEY) shares over potential securities laws violations by Siemens Energy AG was announced.

San Diego, CA -- (SBWire) -- 11/27/2023 --An investigation was announced over potential securities laws violations by Siemens Energy AG in connection with certain financial statements.

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 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:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, 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, investigation, and/or settlements are not filed/reached and/or 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.