If you suffered losses in Eos Energy contact Eos Energy stock loss lawyer Timothy L. Miles about an Eos Energy lawsuit
The Eos Energy class action lawsuit seeks to represent purchasers or acquirers of Eos Energy Enterprises, Inc. (NASDAQ: EOSE) securities between May 9, 2022 and July 27, 2023, inclusive (the “Class Period”). Captioned Houck v. Eos Energy Enterprises, Inc., No. 23-cv-04113 (D.N.J.), the Eos Energy class action lawsuit charges Eos Energy and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Eos Energy stock and wish to serve as lead plaintiff in the class action against Eos Energy, please provide your information below. You can also contact Eos Energy class action lawsuit Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form.
Lead plaintiff motions for the Eos Energy class action lawsuit must be filed with the court no later than October 2, 2023.
Read on for answers to six frequently asked questions in the Eos Energy class action lawsuit.
WHAT ARE THE ALLEGATIONS IN THE ALLEGATIONS IN THE EOS ENERGY CLASS ACTION LAWSUIT?
Eos Energy purports to design, develop, manufacture, and market zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial applications. On March 9, 2022, Eos Energy issued a press release titled “Eos Energy Enterprises Secures Record-Breaking Order from Bridgelink Commodities, LLC,” touting, among other things, that Bridgelink “has committed to purchase 240 MWh of energy storage capacity provided by Eos’s Znyth™ zinc-based technology.”
The Eos Energy class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Bridgelink is connected to a group whose assets were seized by a creditor and sold in an auction; (ii) as such, Bridgelink’s commitment and ability to purchase Eos Energy products was not as secure as Eos Energy had led investors to believe; (iii) as a result, Eos Energy’s backlog was overstated; and (iv) such backlog overstatement negatively impacts Eos Energy’s ability to secure a loan from the U.S. Department of Energy.
On July 27, 2023, Iceberg Research published a report titled “62% of $EOSE’s Backlog Is With Financially Distressed Bridgelink Whose Renewable Energy Assets Were Foreclosed And Auctioned Off In May,” which detailed that 62% of Eos Energy’s $535 million backlog is accounted for by Bridgelink and that Bridgelink’s assets were “recently seized by a creditor and sold in an auction.” On this news, the price of Eos Energy stock declined nearly 24%.
Then, later on July 27, 2023, Eos Energy responded to Iceberg Research’s report by telling investors that Eos Energy “believes that its customer, Bridgelink Commodities, LLC, is a separate legal entity which is not implicated in the legal matters highlighted in today’s statements” and that “[t]his customer, representing 45% of [Eos Energy’s] backlog, reconfirmed today that it continues to build pipeline and is actively seeking financing for energy storage projects covered by Eos [Energy]’s multi-year Master Supply Agreement.” On this news, the price of Eos Energy stock declined more than 14%, further damaging investors.
IF I SUFFERED LOSSES IN EOS ENERGY STOCK, WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE CLASS ACTION AGAINST EOS ENERGY?
Serving as a Lead Plaintiff in the Eos Energy class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Eos Energy if you suffered losses in Eos Energy stock.
HOW WAS THE CLASS PERIOD DETERMINED IN THE CLASS ACTION AGAINST EOS ENERGY?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
In order to be a part of the class in the Eos Energy class action lawsuit, you must have suffered losses in Eos Energy stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Eos Energy.
IF THERE IS A SETTLEMENT IN THE EOS ENERGY CLASS ACTION LAWSUIT, AND I DO NOT THINK IT IS FAIR, WHAT ARE MY OPTIONS AS A CLASS MEMBER?
If there is a settlement in the Eos Energy class action lawsuit, you should receive a court ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold Eos Energy stock during the class period and suffered losses in Eos Energy stock.
The court will hold a final hearing in the class action against Eos Energy on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the Eos Energy lawsuit.
HOW CAN AN EOS ENERGY STOCK LOSS LAWYER HELP ME IF I SUFFERED LOSSES IN EOS ENERGY STOCK?
An Eos Energy stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discovery every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct.
Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients, awards and recognitions and a strong work ethic.
Contact an Eos Energy stock loss Lawyer today if you suffered losses in Eos Energy stock about the Eos Energy class action lawsuit who will fight to recover you suffered losses in Eos Energy stock.
HOW MUCH DOES IT COST TO HIRE AN EOS ENERGY STOCK LOSS LAWYER IF I SUFFERED LOSSES IN EOS ENERGY STOCK?
If you suffered losses in Eos Energy stock and are a member of the class, it does not cost anything to hire an Eos Energy stock loss lawyer. Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery, and the attorney fees and cost are awarded by the court as a percentage of the total recovery for the class. So, contact an Eos Energy stock loss lawyer today if you suffered losses in Eos Energy stock about an Eos Energy class action lawsuit.
CONTACT AN EOS ENERGY STOCK LOSS LAWYER TODAY IF YOU SUFFERED IN LOSSES EOS IN ENERGY STOCK ABOUT A EOS ENERGY CLASS ACTION LOSSES LAWSUIT
If you suffered losses in Eos Energy stock, contact Eos Energy stock loss lawyer Timothy L. Miles today for a free case evaluation about a class action against Eos Energy. Call today for a free consultation in the Eos Energy class action lawsuit and see what an Eos Energy stock loss lawyer can do for you.
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb ratedattorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
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