Eos Energy Enterprises, Inc. (NASDAQ: EOSE)

This lawsuit is for anyone who acquired securities in Eos Energy Enterprises, Inc. (NASDAQ: EOSE) May 9, 2022 through July 27, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by falsely valuing the Company’s 2.2 GWh energy storage system backlog at $535 million at the end of March 2023.

On July 27, 2023, Iceberg Research published a report alleging that Eos’s touted 2.2 GWh energy storage system backlog, which Eos valued at $535 million at the end of March 2023, “is fake.” Iceberg Research alleged that it dug into the background of Bridgelink Commodities, which accounts for half of Eos’s backlog by MWh, or about 62% ($331 million) of its total dollar value, and “uncovered a group whose assets were recently seized by a creditor and sold in an auction.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Eos Energy Enterprises, Inc. (NASDAQ: EOSE) from May 9, 2022 through July 27, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.