San Diego, CA -- (SBWIRE) -- 09/18/2023 -- Siemens Aktiengesellschaft is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Siemens Aktiengesellschaft (OTC: SMNEY, OTC: SMEGF), 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 Aktiengesellschaft regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On June 22, 2023, after the market closed, Siemens Aktiengesellschaft disclosed that it had found a "substantial increase in failure rates of wind turbine components" and had initiated an "extended technical review," which would cost approximately 1 billion euros. Furthermore, Siemens Aktiengesellschaft withdrew its profit guidance for fiscal year 2023.

Then, on June 23, 2023, the Company's CEO told journalists that "too much had been swept under the carpet" and that the quality issues were "more severe than [he] thought possible."

Shares of Siemens Aktiengesellschaft (OTC: SSMNEY, OTC: SMEGF) declined from $26.23 per OTC: SMNEY share on May 19, 2023 to $12.98 per OTC: SMNEY share on Septbemter 08, 2023, respectively from $26.37 per OTC: SMEGF share on May 22, 2023, to $12.78 per OTC: SMEGF share on September 07, 2023.

Those who purchased shares of Siemens Aktiengesellschaft (OTC: SMNEY, OTC: SMEGF) 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
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.