Eos Energy Sued for Misrepresenting Backlog in Bridgelink Deals

Eos Energy Enterprises Inc. allegedly misled investors about a major client’s ability to pay for roughly half of its energy storage system orders backlog, and for failing to disclose that assets belong to the customer’s subsidiary were seized by a creditor and sold at auction, according to a class action filed in New Jersey federal court.

The company inflated its share price by concealing the financial distress that major client Bridgelink Commodities LLC was in between May 2022 and July 2023, the US District Court for the District of New Jersey complaint says.

Eos allegedly touted a record-breaking order from ...