ChargePoint to pay $11M cash to settle 2023 securities class action; no admission of wrongdoing

ChargePoint Holdings, Inc.

Term Sheet dated Sept 28, 2026 settles Farooq Khan v. ChargePoint Holdings, Inc. et al., No. 5:23-cv-06172-NW, in the U.S. District Court for the Northern District of California.
ChargePoint will fund an $11,000,000 cash settlement payment, placed in escrow no later than 21 days after preliminary court approval or receipt of complete payment instructions.
Settlement covers the company and individual defendants: former CEO Pasquale Romano, former CFO Rex Jackson and former Chief Commercial and Revenue Officer Michael Hughes; all deny wrongdoing.
Company expects to execute a final Settlement Agreement and move for preliminary approval within 30 calendar days of signing the Term Sheet; the deal requires Court approval.

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