CHPT - CHARGEPOINT ALERT: Bragar Eagel & Squire P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against ChargePoint Holdings Inc. and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against ChargePoint Holdings Inc. ("ChargePoint" or the "Company") (NYSE:CHPT) in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired ChargePoint securities between June 1, 2023 and November 16, 2023, both dates inclusive (the "Class Period"). Investors have until January 29, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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On September 6, 2023, after the market closed, ChargePoint reported its second quarter fiscal year 2024 financial results, including an "$28.0 million, or 19 percentage point, inventory impairment charge." The Company stated the "inventory impairment charge was taken to address legacy supply chain-related costs and supply overruns on a particular DC product." As a result, the Company reported a second quarter GAAP gross margin of 1%, down from 17% in the prior year's same quarter.
On ...