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NEW YORK–(BUSINESS WIRE)–Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, announces a class action lawsuit has been filed 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.
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 currently own stock or options in Volta Inc. f/k/a Tortoise Acquisition Corp. II and suffered a loss, click here to participate.
If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com.
About the Firm
Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
Contacts
David J. Schwartz
(800) 321-0476
david@labaton.com
