The Schall Law Firm Encourages Investors in Volta Inc. With Losses of $100,000 to Contact the Firm.
LOS ANGELES, CA (ClassActionDaily) The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class-action lawsuit against Volta Inc. f/k/a Tortoise Acquisition Corp. II (“Volta” or “the Company”) (NYSE: VLTA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between August 2, 2021, and March 28, 2022, inclusive (the “Class Period”), are encouraged to contact the firm before May 31, 2022.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Volta failed to properly account for restricted stock units issued in relation to its business combination. Based on this failure, the Company understated its net loss for the third quarter of 2021. The Company failed to maintain appropriate controls over financial reporting. As a result, the Company would be forced to restate its financial statements. Based on these problems, the Company’s founders would leave the organization. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Volta, investors suffered damages.
If you are a shareholder who suffered a loss, click here to participate.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
The video below was published yesterday; however, the lawsuit was filed today.