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TUESDAY INVESTOR DEADLINE: Volta Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - VLTA
San Diego, California--(Newsfile Corp. - May 28, 2022) - Robbins Geller Rudman & Dowd ...
About this update from Volta Metals Ltd
[{"type":"text","content":"TUESDAY INVESTOR DEADLINE: Volta Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - VLTASan Diego, California--(Newsfile Corp. - May 28, 2022) - Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Volta Inc. (NYSE: VLTA) securities between August 2, 2021 and March 28, 2022, inclusive (the \"Class Period\") have until this upcoming Tuesday, May 31, 2022 to seek appointment as lead plaintiff in Kampe v. Volta Inc., No. 22-cv-02055 (N.D. Cal.). The Volta class action lawsuit charges Volta and certain of its top executive officers with violations of the Securities Exchange Act of 1934. A similar lawsuit, Alvarez v. Volta Inc., No. 22-cv-02730, is also pending in the Northern District of California. If you suffered substantial losses and wish to serve as lead plaintiff, please provide your information here:https://www.rgrdlaw.com/cases-volta-inc-class-action-lawsuit-vlta.htmlYou can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. CASE ALLEGATIONS: Volta partners with real estate and retail businesses to locate and deploy its electric vehicle charging stations. On August 26, 2021, Volta Industries, Inc. (\"Legacy Volta\"), a private entity, and Tortoise Acquisition Corp. II, a special purpose acquisition company (\"SPAC\" or blank-check company), completed a business combination pursuant to which the combined entity was named Volta Inc.The Volta class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Volta had improperly accounted for restricted stock units issued in connection with the business combination; (ii) as a result, Volta had understated its net loss for third quarter 2021; (iii) there were material weaknesses in Volta's internal control over financial reporting that resulted in a material error; (iv) as such, Volta would restate its financial statements; (v) consequently, Legacy Volta's founders would imminently exit Volta; (vi) thus, Volta's financial results would be adversely impacted; and (vii) as a result of the foregoing, defendants' positive statements about Volta's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.Robbins Geller has launched a dedicated S...