Jaime Allyson Bartlett, Sara B. Brody and Chaddy Georges from Sidley Austin have entered appearances for ChargePoint Holdings, an operator of electric vehicle charging stations, and its former top officers in a pending securities class action. The suit, filed Nov. 29 in California Northern District Court by Glancy Prongay & Murray and the Law Offices of Frank R. Cruz, accuses the defendants of failing to disclose that profits were dropping due to rising component costs and supply overruns. The suit comes on the heels of the company's release of preliminary Q3 financial results on Nov. 16, the same day that CEO Pasquale Romano and CFO Rex S. Jackson were fired. The case, assigned to U.S. District Judge P. Casey Pitts, is 5:23-cv-06172, Khan v. ChargePoint Holdings, Inc. et al.
Automotive
January 03, 2024, 7:33 AM