NEW YORK--(BUSINESS WIRE)--Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Blink Charging Co. (“Blink” or the “Company”) (NASDAQ: BLNK) between March 6, 2020 to August 19, 2020, (the “Class Period”). The lawsuit filed in the United States District Court for the Southern District of Florida alleges violations of the Securities Exchange Act of 1934.
If you purchased Blink securities, and/or would like to discuss your legal rights and options please visit Blink Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) many of Blink's charging stations are damaged, neglected, non-functional, inaccessible, nor non-accessible; (ii) Blink's purported partnerships and expansions with other companies were overstated; (iii) the purported growth of the Company's network has been overstated; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
On August 19, 2020, analyst Culper Research published a report titled: "Blink Charging Co. (BLNK): You Won't Miss It." In the report Culper estimated that the Company's functional public charging station network consists of just 2,192 stations, a mere 15% of this claim."
On this news, the Company's stock price fell from its August 18, 2020 close of $10.23 per share to an August 20, 2020 close of $7.94, representing a two day drop of $2.29, or approximately 22.4%.
If you wish to serve as lead plaintiff, you must move the Court no later than October 23, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Blink securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/blinkchargingco-blnk-shareholder-class-action-lawsuit-stock-fraud-295/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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