A securities class action has been filed against Eos Energy Enterprises, Inc. (EOSE) on behalf of persons and entities that purchased or otherwise acquired Eos securities between May 9, 2022 through July 27, 2023.  This case has been filed in the USDC – NJ.

On July 27, 2023, Iceberg Research issued an updated report alleging that 62% of Eos’s backlog is with one customer, Bridgelink Commodities, whose renewable energy assets were foreclosed and auctioned off in May 2023. According to the report, Eos failed to disclose the financial situation of Bridgelink Commodities to investors.

On this news, Eos’s stock price fell $0.83 per share, or 23.85%, to close at $2.65 per share on July 27, 2023.