RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Blink Charging Co. ("Blink Charging" or the "Company") (NASDAQ: BLNK) securities during the period from March 6, 2020 through August 19, 2020 inclusive (the “Class Period”).
Blink Charging shareholders may, no later than October 23, 2020, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Blink Charging and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
On August 19, 2020, analyst Culper Research issued a report on Blink Charging, contending that “the Company has vastly exaggerated the size of its EV charging network in order to siphon money from the pockets of investors to insiders. Blink claims that ‘EV drivers can easily charge at any of its 15,000 charging stations’ but we estimate the Company’s functional public charging station network consists of just 2,192 stations, a mere 15% of this claim.” Culper continued that its “investigators confirmed what Blink’s financials already suggest: almost no one uses Blink’s charging stations, many of which are in utterly decrepit condition.” On this news, the price of Blink Charging shares fell precipitously over the following trading days.
If you are a member of the class, you may, no later than October 23, 2020, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.