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Eos Energy | 8-K: Current report

SEC announcement ·  Feb 5 08:27
Summary by Moomoo AI
On February 1, 2024, Eos Energy Enterprises, Inc. reached a settlement agreement to resolve a stockholder class complaint filed by Richard Delman in the Delaware Court of Chancery. The lawsuit was against certain former directors of the company from before its 2020 business combination transaction. Eos Energy and Eos Energy Storage LLC were not defendants but were relevant non-parties with indemnification obligations to the former directors. The settlement involves a $8.5 million fund, with $1.0 million previously paid by the company and an additional $7.5 million to be covered by the company's D&O liability insurance policies. The settlement is awaiting final court approval.
On February 1, 2024, Eos Energy Enterprises, Inc. reached a settlement agreement to resolve a stockholder class complaint filed by Richard Delman in the Delaware Court of Chancery. The lawsuit was against certain former directors of the company from before its 2020 business combination transaction. Eos Energy and Eos Energy Storage LLC were not defendants but were relevant non-parties with indemnification obligations to the former directors. The settlement involves a $8.5 million fund, with $1.0 million previously paid by the company and an additional $7.5 million to be covered by the company's D&O liability insurance policies. The settlement is awaiting final court approval.
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