EV Charging Company Volta Zapped With Shareholder Suit Over Proposed $169M Shell Acquisition
This suit was surfaced by Law.com Radar. Read the complaint here.
February 17, 2023 at 02:53 PM
1 minute read
Volta Industries, an electric vehicle charging network provider, and its board of directors were hit with a shareholder lawsuit on Thursday in California Northern District Court over the company's proposed acquisition by Shell for $169 million. The suit, filed by Brodsky & Smith on behalf of Michael Arndt, alleges that the proxy statement filed in support of the transaction contains false information. Counsel have not yet appeared for the defendants. The case is 3:23-cv-00699, Arndt v. Volta Inc. et al.
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