LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Charge Enterprises, Inc. (“Charge” or “the Company”) (NASDAQ: CRGE) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Charge admitted on November 21, 2023, that it had received a default notice from its senior lender, Arena Investors, LP ("Arena"). The Company further informed the market that its claim of holding "approximately $9.9 million of Company assets . . . in the form of cash, cash equivalents, marketable securities or similar readily liquid assets" was false. These funds had been invested in an illiquid limited partnership interest and were thus "not immediately able to be liquidated or readily accessible." Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Charge, investors suffered damages.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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