Published: Jan. 12, 2023 at 12:19 PM MST|Updated: 12 hours ago
NEW YORK, Jan. 12, 2023 /PRNewswire/ —
WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate securities claims on behalf of shareholders of ESS Tech, Inc. (NYSE: GWH, GWH.WT) resulting from allegations that ESS Tech may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased ESS Tech securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=10877 or call Philip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
WHAT IS THIS ABOUT: On December 7, 2022, market analyst Grizzly Research issued a report alleging ESS Tech’s partnership with Energy Storage Industries Asia Pacific (“ESI”) is not actually a third party but an entity completely reliable on ESS without a real office, staff, or current business. The report alleged that ESS Tech, developer and producer of utility-scale batteries for long duration storage of electricity, concealed its relationship with ESI before announcing their partnership, hid the fact that ESI is a de-facto subsidiary of ESS masking as a third-party party client, and misled investors with their partnership announcement to signal business success to investors.
On this news, the price of ESS Tech’s shares fell $0.24or over 7.7%, to close at $2.64 per share on December 7, 2022damaging investors.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
Laurence Rosen, Esq.
Philip Kim, Esq.
The Rosen Law Firm, PA
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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