Featured in Law360’s article “EV Charging Co. Lenders, Ex-CEO Escape Liquidity Woes Suit,” Ryan O’Neill and David Stewart of Stevens & Lee’s White Collar Defense and Investigations Practice secured a dismissal with prejudice on behalf of the founder and former CEO of electric vehicle charging company Charge Enterprises, Inc. (Charge Enterprises) in a putative securities class action pending in the U.S. District Court for the Southern District of New York.
The lawsuit alleged violations of federal securities laws arising from the business operations and financial disclosures of Charge Enterprises between Oct. 28, 2021, and Feb. 28, 2024, when the company was involved in financing arrangements, disputes with lenders and an eventual Chapter 11 bankruptcy filing in March 2024.
In Sept. 2025, Stevens & Lee moved to dismiss, arguing that plaintiffs could neither identify any actionable wrongdoing by the founder and former CEO nor support claims of Exchange Act liability against him.
Agreeing with Stevens & Lee, the Hon. Jesse M. Furman dismissed all claims against the founder and former CEO of Charge Enterprises with prejudice. The case remains pending against several other defendants.
