This official website is maintained by the Settlement Administrator supervised by Plaintiff’s Counsel in the action entitled Delman v. Riley, C.A. No. 2023-0293-LWW pending in the Court of Chancery of the State of Delaware.
The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency of
Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the “Notice”), which you can access by
clicking here. Because this website is just a summary,
you should review the Notice and Settlement Agreement for additional details.
If you were a public stockholder of Eos Energy Enterprises, Inc. (f/k/a B. Riley Principal Merger Corp. II (“BRII”)) (the “Company”) at any time during the period between 10:00 a.m. ET on November 10, 2020, and close of business on November 16, 2020 (the “Class Period”).
Please also be advised that (i) Plaintiff Richard Delman (“Plaintiff”), individually and on behalf of the Class (defined in Paragraph 20 below); (ii) defendants Bryant R. Riley, Daniel Shribman, Kenneth Young, Patrick J. Bartels, Jr., James L. Kempner, Timothy M. Presutti, Robert Suss (collectively, the “Individual Defendants”), and B. Riley Principal Sponsor Co. II (together with the Individual Defendants, the “Defendants”); and (iii) non-party Eos Energy Enterprises, Inc. f/k/a B. Riley Principal Merger Corp. II (“New Eos,” or the “Company,” and together with Plaintiff and Defendants, the “Parties,” and each a “Party”) have reached a proposed settlement for $8,500,000 in cash (the “Settlement Amount”) as set forth in the Stipulation and Agreement of Settlement, Compromise, and Release (the “Settlement”). The Settlement, if approved, will resolve all claims in the Action.
All record and beneficial holders of BRII Common Stock, whether held as separate shares or as part of Public Units, who held such shares between 10 a.m. ET on November 10, 2020 (the “Redemption Date”) through November 16, 2020 (the “Closing”) (the “Class Period”), and their successors in interest, but excluding (i) (a) Defendants; (b) members of the immediate family of any Individual Defendant; (c) any person who was a manager or managing member of any Defendant during the Class Period and any members of their immediate family; (d) any parent, subsidiary, or affiliate of Defendants; (e) any entity in which any Defendant or any other excluded person or entity has, or had during the Class Period, a controlling interest; and (f) the legal representatives, agents, affiliates, heirs, estates, successors, or assigns of any such excluded persons or entities; and (ii) (a) the Company; and (b) any person who was an officer or director of the Company during the Class Period and any members of their immediate family.
PLEASE NOTE: The Class is a non-opt-out settlement class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2). Accordingly, Class Members do not have the right to exclude themselves from the Class.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu of this page.
Payments to eligible claimants will be made only if the Court approves the Settlement and a Plan of Allocation, only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
Please read the Notice carefully. If you have questions, you may call the B. Riley II Stockholders Settlement Help Line at 877-411-4708 or email info@BRIIStockholderSettlement.com.
If you were a public stockholder of Eos Energy Enterprises, Inc. (f/k/a B. Riley Principal Merger Corp. II (“BRII”)) (the “Company”) at any time during the period between 10:00 a.m. ET on November 10, 2020, and close of business on November 16, 2020 (the “Class Period”).
Please also be advised that (i) Plaintiff Richard Delman (“Plaintiff”), individually and on behalf of the Class (defined in Paragraph 20 below); (ii) defendants Bryant R. Riley, Daniel Shribman, Kenneth Young, Patrick J. Bartels, Jr., James L. Kempner, Timothy M. Presutti, Robert Suss (collectively, the “Individual Defendants”), and B. Riley Principal Sponsor Co. II (together with the Individual Defendants, the “Defendants”); and (iii) non-party Eos Energy Enterprises, Inc. f/k/a B. Riley Principal Merger Corp. II (“New Eos,” or the “Company,” and together with Plaintiff and Defendants, the “Parties,” and each a “Party”) have reached a proposed settlement for $8,500,000 in cash (the “Settlement Amount”) as set forth in the Stipulation and Agreement of Settlement, Compromise, and Release (the “Settlement”). The Settlement, if approved, will resolve all claims in the Action.
All record and beneficial holders of BRII Common Stock, whether held as separate shares or as part of Public Units, who held such shares between 10 a.m. ET on November 10, 2020 (the “Redemption Date”) through November 16, 2020 (the “Closing”) (the “Class Period”), and their successors in interest, but excluding (i) (a) Defendants; (b) members of the immediate family of any Individual Defendant; (c) any person who was a manager or managing member of any Defendant during the Class Period and any members of their immediate family; (d) any parent, subsidiary, or affiliate of Defendants; (e) any entity in which any Defendant or any other excluded person or entity has, or had during the Class Period, a controlling interest; and (f) the legal representatives, agents, affiliates, heirs, estates, successors, or assigns of any such excluded persons or entities; and (ii) (a) the Company; and (b) any person who was an officer or director of the Company during the Class Period and any members of their immediate family.
PLEASE NOTE: The Class is a non-opt-out settlement class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2). Accordingly, Class Members do not have the right to exclude themselves from the Class.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu of this page.
Payments to eligible claimants will be made only if the Court approves the Settlement and a Plan of Allocation, only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
Please read the Notice carefully. If you have questions, you may call the B. Riley II Stockholders Settlement Help Line at 877-411-4708 or email info@BRIIStockholderSettlement.com.
| CLASS MEMBERS’ LEGAL RIGHTS IN THE SETTLEMENT: | |
|---|---|
| RECEIVE A PAYMENT FROM THE SETTLEMENT. SUBMIT A CLAIM FORM POSTMARKED (IF MAILED), OR ONLINE, NO LATER THAN NOVEMBER 4, 2024. | If you are a member of the Class (defined in Paragraph 20 of the Notice), you may be eligible to receive a distribution from the Settlement proceeds. To ensure receipt of any Settlement proceeds to which they are entitled, Eligible Class Members (defined in Paragraph 29 of the Notice) must submit a claim form within 90 calendar days of the date set by the Court to mail the Notice to Class Members. If approved by the Court, any distribution from the Settlement due to Eligible Class Members will be paid to them directly. See Paragraphs 32-36 of the Notice for further discussion. |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 2, 2024. | If you are a member of the Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, or Class Counsel’s request for a Fee and Expense Award, you may write to the Court and explain the reasons for your objection. |
| ATTEND A HEARING ON OCTOBER 17, 2024, AT 11:00 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN OCTOBER 2, 2024. | Filing a written objection and notice of intention to appear that is received by October 2, 2024, allows you to speak in Court, at the discretion of the Court, about your objection. In the Court’s discretion, the October 17, 2024, hearing may be conducted by telephone or videoconference (see Paragraphs 40-42 of the Notice). If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. |
