BOSTON, MA / ACCESSWIRE / January 14, 2021 / Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, announces that it is investigating Eos Energy Enterprises, Inc. (NASDAQ:EOSE) for potential violations of the federal securities laws.
On January 14, 2021, analyst Iceberg Research published a report entitled "Eos Energy ($EOSE): Fake Customers Won't Recharge a Dead Battery." In this report, Iceberg Research wrote that Eos Energy is a battery energy storage systems SPAC with "failed technology and dubious customers." Iceberg wrote that its "findings show" that Eos Energy's "disclosed customers are extremely unlikely to have the financial ability to honour their contracts," and that "[g]iven its failed technology and dubious clients," Iceberg Research "estimate[s] that EOS' equity is worth only $144M . . . which represents a 90% downside from its current market cap of $1.5B." The market was stunned by this report, and shares are down over 10% in intraday trading.
Block & Leviton LLP (www.blockleviton.com) is investigating whether Eos Energy and certain of its executives may be liable for securities fraud. If you purchased or acquired shares of Eos Energy and have questions about your legal rights or possess information relevant to these investigations, please contact Block & Leviton attorneys at (617) 398-5600, via email at [email protected], or at https://www.blockleviton.com/cases/eose.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets. The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm's lawyers have recovered billions of dollars for its clients.
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SOURCE: Block & Leviton LLP