CHPT - ChargePoint Sued for Securities Law Violations; Investors Should Contact Block & Leviton for More Information | Benzinga
BOSTON, Jan. 04, 2024 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed against ChargePoint Holdings, Inc. (NYSE:CHPT) for securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/chpt.
What is this all about?
After the market closed on September 6, 2023, ChargePoint reported financial results for fiscal Q2 2024 in which it disclosed a $28 million inventory impairment charge that was taken to address legacy supply-chain related costs and supply overruns. Then after the market closed on November 16, 2023, ChargePoint announced preliminary financial results for fiscal Q3 2024 which included an additional non-cash inventory impairment charge of $42 million related to product transitions and to align inventory with current market demand. ChargePoint also announced the replacement of both its Chief Executive Officer and Chief Financial Officer.
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