Eos Energy Enterprises, Inc.
A securities class action has been filed in the USDC – N.J. against Eos Energy Enterprises, Inc. (EOSE) (“EOS” or the “Company”) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired EOS securities between May 9, 2022 through July 27, 2023, both dates inclusive (the “Class Period”).
Eos claims it designs, develops, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial & industrial (“C&I”) applications.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:
- that Bridgelink Commodities, LLC (“Bridgelink”) is connected to a group whose assets were seized by a creditor and sold in an auction;
- that, as such, Bridgelink’s commitment and ability to purchase Eos products was not as secure as Eos had led investors to believe;
- that, as such, Eos’s backlog was overstated;
- that such overstatement negatively impacts Eos’s ability to secure a loan from the Department of Energy; and
- that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.
If you purchased EOS securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
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