{"id":767763,"date":"2023-07-05T10:48:29","date_gmt":"2023-07-05T14:48:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/short-seller-driven-class-action-suit-dismissed\/"},"modified":"2023-07-05T10:48:29","modified_gmt":"2023-07-05T14:48:29","slug":"short-seller-driven-class-action-suit-dismissed","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/short-seller-driven-class-action-suit-dismissed\/","title":{"rendered":"Short Seller-Driven Class Action Suit Dismissed"},"content":{"rendered":"

<\/p>\n

Short Seller-Driven Class Action Suit Dismissed<\/b><\/p>\n

Plaintiff voluntarily dismisses suit<\/i><\/p>\n

WILSONVILLE, Ore.–(BUSINESS WIRE<\/a>)–
\nESS Tech, Inc. (\u201cESS\u201d) (NYSE:GWH) is pleased to announce that, on June 29, 2023, the previously disclosed class action suit was voluntarily dismissed without any payment or other consideration from ESS. The suit was largely based upon assertions in the flawed Grizzly Research report published in December of 2022. As ESS has consistently stated, the short seller report contained numerous false and misleading assertions and allegations, including claims related to ESS\u2019 relationship with its Australian customer, Energy Storage Industries \u2013 Asia Pacific (ESI). The voluntary dismissal underscores that the claims made in the report by a self-described short seller are meritless.<\/p>\n

\n“ESS is pleased that the plaintiff has elected to dismiss the suit,\u201d said Eric Dresselhuys, CEO of ESS. \u201cWe remain focused on our primary mission to deploy safe and sustainable long-duration energy storage and catalyze the clean energy future.\u201d<\/p>\n

\nESS delivers iron flow long-duration energy storage systems worldwide to meet growing demand in partnership with major U.S. and international utilities, developers and service providers to enable renewable energy deployment and deep decarbonization of the grid.<\/p>\n

About ESS Tech, Inc.<\/b><\/p>\n

\nAt ESS (NYSE: GWH), our mission is to accelerate global decarbonization by providing safe, sustainable, long-duration energy storage that powers people, communities and businesses with clean, renewable energy anytime and anywhere it\u2019s needed. As more renewable energy is added to the grid, long- duration energy storage is essential to providing the reliability and resiliency we need when the sun is not shining and the wind is not blowing.<\/p>\n

\nOur technology uses earth-abundant iron, salt and water to deliver environmentally safe solutions capable of providing up to 12 hours of flexible energy capacity for commercial and utility-scale energy storage applications. Established in 2011, ESS Inc. enables project developers, independent power producers, utilities and other large energy users to deploy reliable, sustainable long-duration energy storage solutions. For more information visit www.essinc.com<\/a>.<\/p>\n

Forward-Looking Statements<\/i><\/p>\n

This communication contains certain forward-looking statements regarding ESS and its management team\u2019s expectations, hopes, beliefs, or intentions regarding the future. The words \u201cestimate\u201d, \u201cexpect\u201d, \u201cwill\u201d and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Examples of forward-looking statements include, among others, statements regarding the Company\u2019s ability to execute on orders and the Company\u2019s relationships with customers. These forward-looking statements are based on ESS\u2019 current expectations and beliefs concerning future developments. Many factors could cause actual future events to differ materially. Except as required by law, ESS is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.<\/i><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230705441674\/en\/<\/a><\/span><\/p>\n

\nInvestors:
\n
Erik Bylin
\n
Investors@essinc.com<\/a><\/p>\n

\nMedia:
\n
Morgan Pitts
\n
503.568.0755
\n
morgan.pitts@essinc.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Oregon<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Utilities Legal Alternative Energy Energy Class Action Lawsuit<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Short Seller-Driven Class Action Suit Dismissed Plaintiff voluntarily dismisses suit WILSONVILLE, Ore.–(BUSINESS WIRE)– ESS Tech, Inc. (\u201cESS\u201d) (NYSE:GWH) is pleased to announce that, on June 29, 2023, the previously disclosed class action suit was voluntarily dismissed without any payment or other consideration from ESS. The suit was largely based upon assertions in the flawed Grizzly Research report published in December of 2022. As ESS has consistently stated, the short seller report contained numerous false and misleading assertions and allegations, including claims related to ESS\u2019 relationship with its Australian customer, Energy Storage Industries \u2013 Asia Pacific (ESI). The voluntary dismissal underscores that the claims made in the report by a self-described short seller are meritless. “ESS is pleased that the plaintiff … <\/p>\n

Continue reading “Short Seller-Driven Class Action Suit Dismissed”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-767763","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nShort Seller-Driven Class Action Suit Dismissed - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/short-seller-driven-class-action-suit-dismissed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Short Seller-Driven Class Action Suit Dismissed - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Short Seller-Driven Class Action Suit Dismissed Plaintiff voluntarily dismisses suit WILSONVILLE, Ore.–(BUSINESS WIRE)– ESS Tech, Inc. (\u201cESS\u201d) (NYSE:GWH) is pleased to announce that, on June 29, 2023, the previously disclosed class action suit was voluntarily dismissed without any payment or other consideration from ESS. The suit was largely based upon assertions in the flawed Grizzly Research report published in December of 2022. As ESS has consistently stated, the short seller report contained numerous false and misleading assertions and allegations, including claims related to ESS\u2019 relationship with its Australian customer, Energy Storage Industries \u2013 Asia Pacific (ESI). 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