ChargePoint Holdings Inc. and two former top executives allegedly misled investors about component cost issues, concealing the fact that it was experiencing higher costs and supply overruns for its charging products, a proposed class action suit says.
The Campbell, Cal.-based company failed to disclose these issues, which caused the company to incur impairment charges and ultimately had an adverse impact on profitability, according to the suit filed Wednesday in the US District Court for the Northern District of California.
The alleged misrepresentations took place this year over a period of more than five months, during which the company, ex-CEO Pasquale ...
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