Law Offices of Howard G. Smith announces an investigation on behalf of Eos Energy Enterprises, Inc. (“Eos” or the “Company”) (NASDAQ: EOSE) investors concerning the Company’s possible violations of federal securities laws.
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, Eos’s stock price fell $0.83, or 23.9%, to close at $2.65 per share on July 27, 2023, thereby injuring investors.
If you purchased Eos securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230728713291/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
