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CHPT.US
id: 887
ChargePoint (CHPT) Supply and Inventory Issues Case
N.D. California
Court5:23-cv-06172
Case number01 Jun 2023
Class period Start16 Nov 2023
Class period End29 Jan 2024
Lead Plaintiff motion deadline- ChargePoint reported a substantial inventory impairment charge in Q2 2024, leading to an 11% drop in share price.
- In Q3, ChargePoint disclosed more inventory impairment, lower revenue, and leadership changes, resulting in a 35% drop in share price.
After ChargePoint reported Q2 2024 results with a significant inventory impairment charge, $CHPT dropped 11%.
Then, in Q3, ChargePoint announced an additional inventory impairment charge, a drop in revenue, and changes in leadership. $CHPT plummeted 35%.
Investors suspect that ChargePoint and its leaders didn't properly inform them about higher costs, supply issues, and the expected impact on profitability.
Case Status
Motion to dismiss
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
17 November 2023
Filing date
29 November 2023
Lead Plaintiff Deadline
29 January 2024
Judge
Susan van Keulen