Fluence On The Diablo Plant Says It Will Pursue The Owed Payments And Dispute Allegations In The Counterclaim Filed By The Plant Operator
Portfolio Pulse from Benzinga Newsdesk
Fluence is actively pursuing owed payments and will dispute allegations made in a counterclaim by Diablo Energy Storage, LLC. The counterclaim was a response to Fluence's initial complaint regarding Diablo's failure to fulfill contract terms, including payment. Fluence asserts that their work on the Diablo Plant was satisfactory and expects payment, deeming the counterclaim meritless. They intend to defend against Diablo's claims while enforcing their own.
December 20, 2023 | 9:29 pm
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NEUTRAL IMPACT
Fluence is involved in a legal dispute with Diablo Energy Storage, LLC over unpaid work on the Diablo Plant. Fluence is confident in the quality of their work and is seeking to collect owed payments while disputing Diablo's counterclaim.
The legal dispute may create uncertainty among investors, potentially affecting Fluence's stock price. However, the company's confidence in the merit of their work and the outcome of the dispute suggests a neutral short-term impact, as the market may adopt a wait-and-see approach until more information is available or a resolution is reached.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80