An investigation for investors in Blink Charging Co. (NASDAQ:BLNK) shares over potential securities laws violations by Blink Charging Co. was announced.
San Diego, CA -- (SBWIRE) -- 08/25/2023 -- Blink Charging Co. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Blink Charging Co. (NASDAQ: BLNK), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Blink Charging Co. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Miami, Beach, FL based Blink Charging Co., through its subsidiaries, owns, operates, manufactures, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States and internationally. Blink Charging Co. reported that its annual Total Revenue rose from $20.94 million in 2021 to $61.13 million in 2022, and that its Net Loss increased from $55.11 million in 2021 to $91.51 million in 2022.
On August 9, 2023, Blink Charging Co. disclosed that it received a subpoena from the Securities and Exchange Commission ("SEC") requesting the "production of documentation and other information since January 1, 2020, relating to various subjects, including executive departures, related-party transactions, number of EV charging stations, and other discrete disclosure matters." The Company further disclosed that it is "unable to predict what the timing or the outcome of the SEC investigation may be or what, if any, consequences the SEC investigation may have on us."
Shares of Blink Charging Co. (NASDAQ: BLNK) declined from $15.85 per share on October 13, 2022 to $4.06 per share on August 24, 2023.
Those who purchased shares of Blink Charging Co. (NASDAQ: BLNK) have certain options and should contact the Shareholders Foundation.
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