Overview

• ChargePoint Holdings, Inc. is facing a class action lawsuit for allegedly failing to disclose material information regarding its first generation DC charging products.
• The company reported a significant inventory impairment charge of $28.0 million in Q2 2024, leading to a drop in share price.
• In Q3 2024, ChargePoint announced an additional non-cash inventory impairment charge of $42 million, causing a further drop in share price.
• The company's CEO and CFO were replaced immediately following the release of the Q3 2024 financial results.
• Shareholders have until January 29, 2024, to file lead plaintiff applications in the securities class action lawsuit.