2022-07-23 | NYSE: VLTA | Press release

Philadelphia, Pa.–(Newsfile Corp. – July 23, 2022) – Investor protection law firm Kaskela Law LLC announces it is investigating Volta Inc. (NYSE: VLTA) on behalf of long-term shareholders of the society.

The investigation seeks to determine whether Volta and/or the company’s officers and directors violated securities laws or breached their fiduciary duties to shareholders in connection with recent corporate actions, thereby causing harm to shareholders at long term of the company.

Volta shareholders are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected]) or online at https://kaskelalaw.com/cases/volta-inc/for more information about this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger and acquisition litigation. For more information about Kaskela Law LLC, please visit www.kaskelalaw.com. This notice may constitute advertising for attorneys in some jurisdictions.

CONTACT:

D.Seamus Kaskela, Esq.

Adrienne Bell, Esq.

SARL DE LOI KASKELA

18 Campus Blvd., Suite 100

Newtown Square, Pennsylvania 19073

(888) 715 – 1740

(484) 229 – 0750

www.kaskelalaw.com

LONG-TERM VOLTA SHAREHOLDER ALERT: Kaskela Law LLC Announces Volta Inc. (VLTA) Shareholder Investigation and Encourages Long-Term Shareholders to Contact the Firm

PHILADELPHIA, Pennsylvania

April 16, 2022

Kaskela Law LLC announces that it is investigating Volta Inc. (NYSE: VLTA) on behalf of the company’s long-term shareholders.

Volta shareholders are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected]) or online at https://kaskelalaw.com/cases/volta-inc/ for more information about this investigation and their legal rights and options.

The investigation seeks to determine whether Volta and/or the company’s officers and directors violated securities laws or breached their fiduciary duties to shareholders in connection with recent corporate actions, thereby causing harm to shareholders at long term of the company.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger and acquisition litigation. For more information about the firm, please visit www.kaskelalaw.com. This notice may constitute advertising for attorneys in some jurisdictions.

CONTACT:

D.Seamus Kaskela, Esq.

Adrienne Bell, Esq.

SARL DE LOI KASKELA

18 Campus Blvd., Suite 100

Newtown Square, Pennsylvania 19073

(888) 715 – 1740

(484) 229 – 0750

www.kaskelalaw.com

SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Volta Inc. (VLTA) and Encourages VLTA Investors to Contact the Firm

PHILADELPHIA, Pennsylvania

July 23, 2022

Kaskela Law LLC announces that it is investigating Volta Inc. (NYSE: VLTA) on behalf of the company’s investors.

Recently, a shareholder complaint was filed alleging that Volta made a series of false and/or misleading statements to investors and failed to disclose to investors material adverse facts regarding the company’s business, operations and prospects. . Among other things, the complaint alleges that the Company “misaccounted for restricted stock issued in connection with the business combination,” which caused Volta to understate its net loss for the 3rd quarter of 2021 and to have to restate its financial state.

The truth began to emerge on March 2, 2022 when the Company disclosed that the financial impact of the restatement was greater than previously disclosed. The company has filed an amended Form 8-K with the SEC stating, “The estimated financial impact of this adjustment is an increase of approximately $26.7 million in stock-based compensation and a corresponding increase in paid-up capital, resulting in an approximate net loss for the three and nine months ended September 30, 2021 of $69.7 million and $155.5 million, respectively.

Then, on March 28, 2022, the company announced that its founders, Scott Mercer and Christopher Wendel, had resigned as CEO and chairman, respectively, and from the board of directors of Volta. Following this news, the company’s shares lost a further 18% in value, closing at $3.37 per share on March 28, 2022.

The purpose of the investigation is to determine whether members of Volta’s board of directors violated securities laws and/or breached their fiduciary duties in connection with the misconduct alleged above.

Current Volta shareholders are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected]) or online at https://kaskelalaw.com/cases/volta-inc/ for more information about this investigation and their legal rights and options.

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and M&A litigation, and has helped recover over $100 million on behalf of victimized investors. For more information about Kaskela Law LLC, please visit www.kaskelalaw.com.

CONTACT:

SARL DE LOI KASKELA

D.Seamus Kaskela, Esq.

[email protected]

Adrienne Bell, Esq.

[email protected]

18 Campus Blvd., Suite 100

Newtown Square, Pennsylvania 19073

(888) 715 – 1740

(484) 229 – 0750

www.kaskelalaw.com

This notice may constitute advertising for attorneys in some jurisdictions.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131743

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