Volta Industries, an electric vehicle charging network provider, and certain company officers and directors were hit with a shareholder derivative lawsuit Thursday in California Northern District Court. The court case, brought by Magnanimo Dean Law and Gainey McKenna & Egleston, arises from the abrupt departure of Volta’s founders in March 2022 and alleges that company insiders improperly accounted for restricted stock units issued in connection with Volta’s 2021 de-SPAC merger. Counsel have not yet appeared for the defendants. The case is 3:22-cv-04239, Heil v. Ahelto et al.
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