Lawsuit filed for Investors who lost money with ChargePoint Holdings, Inc. (NYSE: CHPT) shares

An investor, who purchased shares of ChargePoint Holdings, Inc. (NYSE: CHPT), filed a lawsuit over alleged violations of Federal Securities Laws by ChargePoint Holdings, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of ChargePoint Holdings, Inc. (NYSE: CHPT) have certain options and for certain investors are short and strict deadlines running. Deadline: January 29, 2024. NYSE: CHPT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Campbell, CA based ChargePoint Holdings, Inc., together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. On November 16, 2023, ChargePoint Holdings, Inc. announced certain preliminary third quarter financial results for fiscal year 2024. ChargePoint Holdings, Inc said it expects revenue to drop to between $108 million and $113 million, far below a previous forecast of between $150 million and $165 million. Additionally ChargePoint Holdings, Inc announced that Pasquale Romano, who had been chief executive officer since 2011, and Chief Financial Officer Rex Jackson were replaced effective Thursday, November 16, 2023.Shares of ChargePoint Holdings, Inc. (NYSE: CHPT) declined from $3.54 per share on November 15, 2023, to $1.93 per share on November 22, 2023.

The plaintiff claims that between June 1, 2023 and November 16, 2023, the Defendants failed to disclose to investors the Company was experiencing higher component costs and supply overruns for first generation DC charging products that, as a result, the Company was likely to incur impairment charges, that, as a result of the foregoing, the Company's profitability 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 ChargePoint Holdings, Inc. (NYSE: CHPT) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
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.