LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Eos Energy Enterprises, Inc. (“Eos Energy” or “the Company”) (NASDAQ: EOSE) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Eos Energy is the subject of a report published by Iceberg Research on January 14, 2021. The report, titled "Eos Energy ($EOSE): Fake Customers Won't Recharge a Dead Battery," alleges that the Company suffers from "failed technology and dubious customers.” The report states that "the disclosed customers are extremely unlikely to have the financial ability to honour their contracts," and "estimate[s] that EOS' equity is worth only $144M . . . which represents a 90% downside from its current market cap of $1.5B." Based on this news, shares of Eos Energy fell by more than 13.5% on the same day.
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