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CHPT.US
id: 887

ChargePoint (CHPT) Supply and Inventory Issues Case

N.D. California
Court
5:23-cv-06172
Case number
01 Jun 2023
Class period Start
16 Nov 2023
Class period End
29 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
Lead Plaintiff Appointed
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
Collecting participants…

ChargePoint Holdings Inc

ChargePoint Holdings, Inc., together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio o...

    Ticker
    CHPT.US
    ISIN
    US15961R1059
    CIK
    1777393
    Sector
    Consumer Cyclical
    Industry
    Specialty Retail
    Country
    USA
    Address
    240 East Hacienda Avenue, Campbell, CA, United States, 95008