The Opportunity for CRGE Investors

Investors in Charge Enterprises Inc. (CRGE) have found themselves at the forefront of a legal battle that has sent shockwaves through the market. The Schall Law Firm, a stalwart in shareholder rights litigation, is laying down the gauntlet with a class action lawsuit against the company for alleged violations of securities laws.

Seeking Justice

The lawsuit targets alleged breaches of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 by Charge Enterprises Inc. Investors who held the company’s securities between December 15, 2021, and February 28, 2024 (the “Class Period”) are urged to step up and be counted before July 29, 2024.

A Shocking Revelation

The crux of the issue stems from revelations that Charge Enterprises Inc. had misled the market with false information. In a stunning admission on November 21, 2023, the company disclosed receiving a default notice from its senior lender, Arena Investors, LP. Furthermore, the claim that the company held nearly $9.9 million in easily accessible assets turned out to be a mirage, with these funds tied up in illiquid investments.

The Fallout

As the truth unraveled, investors bore the brunt of the fallout. The market’s awakening to the discrepancies in Charge’s statements caused significant financial harm to shareholders. The repercussions of these unsettling events reverberated, and the Schall Law Firm has stepped in to champion the cause of affected investors.

Join the Fight

For those who have suffered losses, the call to action is clear. By joining the class action lawsuit led by the Schall Law Firm, investors have the opportunity to seek recourse for the damages incurred during the tumultuous period. The legal battle ahead promises to be arduous, but the pursuit of justice in the face of alleged deception remains paramount.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240724946010/en/