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BLNK.US
id: 943, Created by , Scout

Blink (BLNK) SEC Investigation Case

  • In August, Blink disclosed receipt of an SEC subpoena.
  • On it, $BLNK fell 14%, losing $65M+ shareholder value.
  • Investors may have grounds to suspect Blink of hiding regulatory reporting setbacks, which led to their losses.
On August 9, 2023, Blink disclosed that it received a subpoena from the SEC requesting the documentation and other information since January 1, 2020, relating to various subjects.
  • The subjects included executive departures, related-party transactions, the number of EV charging stations, and other discrete disclosure matters.
  • Blink further disclosed its inability to predict the timing, outcome, or consequences of the SEC investigation.
On this news, $BLNK fell 14% and lost over $65 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Blink and its executives were involved in unlawful business practices and failed to timely disclose company’s regulatory setbacks, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10 August 2023
Collecting participants…

Blink Charging Co

Blink Charging Co., through its subsidiaries, owns, operates, manufactures, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States and interna...

    Ticker
    BLNK.US
    ISIN
    US09354A1007
    CIK
    1429764
    Sector
    Industrials
    Industry
    Engineering & Construction
    Country
    USA
    Address
    605 Lincoln Road, Miami Beach, FL, United States, 33139