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Technology

Jul. 12, 2022

Charging station executives released false loss report, suit says

Volta maintains one of the most utilized EV charging networks in the nation. Company founders resigned in March, after a corrected loss report was released.

Top executives and board members of the electric vehicle charging station company Volta Inc. have been accused in a lawsuit of releasing false information regarding the net loss the company suffered for the third quarter in 2021.

A shareholder derivative complaint filed Saturday alleges Volta reported a $43.1 million net loss in September 2021 but revealed in March that the actual net loss was $69.7 million, triggering a substantial drop ...

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