SAN DIEGO, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of ESS Tech Inc. (NYSE: GWH). The class action is on behalf of shareholders who purchased ESS Tech securities between August 11, 2022 and December 7, 2022, both dates inclusive (the “Class Period”). Investors are hereby notified that they have until March 13, 2023, to move the Court to serve as lead plaintiff in this action.
What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
To join this action, you can click or copy and paste the link below into a browser:
https://www.johnsonfistel.com/investigations/ess-tech-inc
There is no cost or obligation to you.
According to the lawsuit, defendants throughout the Class Period made false and misleading statements and failed to disclose that: (1) the purported agreement with Energy Storage Industries Asia Pacific (“ESI”) was in fact an undisclosed related party transaction because ESI was a de-facto subsidiary of ESS masquerading as a third-party client; (2) ESS misled investors with their partnership announcement to signal business success to investors; and (3) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A lead plaintiff will act on behalf of all other class members in directing the ESS Tech class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the ESS Tech class action lawsuit is not dependent upon serving as lead plaintiff.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com
