PR Newswire
NEW YORK, May 28, 2024
NEW YORK, May 28, 2024 /PRNewswire/ -- Moore Law, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
- ChargePoint Holdings, Inc. ("ChargePoint") (NYSE: CHPT)
Shareholders who acquired before December 7, 2021 should email:
ChargePoint provides networked solutions for charging electric vehicles, including the ChargePoint cloud subscription platform and charging hardware.
In September and November 2023, ChargePoint announced impairment charges and disappointing revenue. These negative announcements, among other reasons, crashed the stock from $7.44 on September 1, 2023 to $2.02 on November 17, 2023. ChargePoint's CEO and CFO were both replaced. CharePoint stock is down 82% over the last 12 months.
The investigation concerns misrepresentations and/or failure to disclose that: (1) ChargePoint was experiencing higher component costs and supply overruns for first generation DC charging products; (2) as a result, the company was likely to incur impairment charges; (3) as a result of the foregoing, the company's profitability would be adversely impacted; and (4) as a result, Defendants' statements about the company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
A few months before the November 2023 announcement, several ChargePoint insiders, including the former CFO, collectively sold around $30,000,000 in ChargePoint stock.
If you own ChargePoint Holdings, Inc. (NYSE: CHPT), please contact Fletcher Moore by email at [email protected] or (212) 709-8245. There is no cost to you. We will never send you a bill or ask for payment. Attorney advertising. Prior results do not guarantee similar outcomes.
ABOUT MOORE LAW PLLC
Moore Law is a NYC plaintiff litigation law firm for investors. We hold officers and directors accountable for breaches of fiduciary duty, fraud, insider trading, wasteful spending, and other corporate malfeasance. There is no cost to you. Our investor cases are contingency only.
Fletcher Moore, Esq.
Moore Law, PLLC
[email protected]
(212) 709-8245
www.fmoorelaw.com
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SOURCE Moore Law PLLC
