CHARGEPOINT SHAREHOLDER ALERT: CLAIMSFILER REMINDS

NEW ORLEANS, Dec. 19, 2023 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until January 29, 2024 to file lead plaintiff applications in a securities class action lawsuit against ChargePoint Holdings, Inc. (NYSE: CHPT), if they purchased the Company’s securities between June 1, 2023 and November 16, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.

Get Help

ChargePoint investors should visit us at https://claimsfiler.com/cases/nyse-chpt/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

ChargePoint and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On November 16, 2023, post-market, the Company announced its preliminary financial results for 3Q 2024, disclosing that revenue had fallen to “$108 million to $113 million, as compared to $150 to $165 million as previously expected,” and an additional non-cash inventory impairment charge in the amount of $42 million “related to product transitions and to better align inventory with current demand,” which was expected to result in “GAAP gross margin of negative 23% to negative 21%,” as well as the replacement of both its CEO and CFO, effective immediately.

On this news, shares of ChargePoint fell $1.11, or 35%, to close at $2.02 per share on November 17, 2023, on unusually heavy trading volume.

The case is Khan v. ChargePoint Holdings, Inc., et al., No. 23-cv-06172.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.