ChargePoint Holdings, Inc. (NYSE: CHPT)

This lawsuit is for anyone who acquired securities in ChargePoint Holdings, Inc. (NYSE: CHPT) from December 7, 2021 through November 16, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by issuing guidance without a reasonable basis for doing so considering that the Company knew that it was having difficulty managing its inventory.

On November 16, 2023, after the market closed, ChargePoint released preliminary financial results for third quarter 2023, disclosing that revenue had fallen to “$108 million to $113 million, as compared to $150 to $165 million as previously expected.” The Company also announced that it would be replacing both its CEO and CFO, effective immediately. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in ChargePoint Holdings, Inc. (NYSE: CHPT) from December 7, 2021 through November 16, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.