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Volta Inc.


Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Volta Inc. ("Volta" or the "Company") on behalf of stockholders.  A class action complaint has been filed against Volta.  The complaint alleges that defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, and prospects.  Specifically, defendants failed to disclose to investors that: (i) Volta had improperly accounted for restricted stock units issued in connection with the business combination of Volta Industries, Inc. and Tortoise Acquisition Corp. II; (ii) as a result, the Company had understated its net loss for third quarter 2021; (iii) there were material weaknesses in the Company's internal controls over financial reporting that resulted in a material error; (iv) as a result of the foregoing, the Company would restate its financial statements; (v) as a result, Legacy Volta's founders would imminently exit the Company; (vi) as a result, the Company's financial results would be adversely impacted; and (vii) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

Date of signing: 06/15/2024

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