VLTA SHAREHOLDER ALERT: Jakubowitz Law Reminds Volta Shareholders of a Lead Plaintiff Deadline of May 31, 2022
NEW YORK , May 27, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Volta Inc. (NYSE: VLTA).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/volta-inc-loss-submission-form/?id=27750&from=4
The lawsuit seeks to recover losses for shareholders who purchased Volta between August 2, 2021 and March 28, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 31, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Volta Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Volta had improperly accounted for restricted stock units issued in connection with the business combination of Volta Industries, Inc. ("Legacy Volta") and Tortoise Acquisition Corp. II; (2) as a result, the Company had understated its net loss for third quarter 2021; (3) there were material weaknesses in the Company's internal control over financial reporting that resulted in a material error; (4) as a result of the foregoing, the Company would restate its financial statements; (5) as a result of the foregoing, Legacy Volta's founders would imminently exit the Company; (6) as a result, the Company's financial results would be adversely impacted; and (7) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
SOURCE Jakubowitz Law
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