Grand News Network | November 8, 2023

SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Siemens Energy AG of an Investigation and Potential Class Action Lawsuit – (OTC Other: SMNEY)

NEW YORK, Nov. 08, 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 ...

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