Levi & Korsinsky, LLP notifies investors in Volta Inc. (“Volta” or the “Company”) (NYSE: VLTA) of a class action securities lawsuit.
The Vlta lawsuit seeks to recover losses on behalf of Volta investors who were adversely affected by alleged securities fraud between August 2, 2021 and March 28, 2022.
VLTA investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS:
The filed complaint alleges that defendants made false statements and/or concealed 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.
WHAT’S NEXT? If you suffered a loss in Volta during the relevant time frame, you have until May 31, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU:
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: