Investigation announced for Long-Term Investors in Volta Inc. (NYSE: VLTA) over potential Wrongdoing

An investigation was announced concerning potential breaches of fiduciary duties by certain directors of Volta Inc..

Investors who are current long term investors in Volta Inc. (NYSE: VLTA) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: VLTA stocks follows a lawsuit filed against Volta Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: VLTA stocks, concerns whether certain Volta directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that the Defendants failed to disclose to investors that Volta had improperly accounted for restricted stock units issued in connection with the Business Combination, that, as a result, the Company had understated its net loss for third quarter 2021, that there were material weaknesses in the Company's internal control over financial reporting that resulted in a material error, that, as a result of the foregoing, the Company would restate its financial statements, that, as a result of the foregoing, Legacy Volta's founders would imminently exit the Company, that, as a result, the Company's financial results would be adversely impacted;, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Volta Inc. (NYSE: VLTA) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.