Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries The Law Offices of Frank R. Cruz Announces Investigation of Charge Enterprises, Inc. (CRGE) on Behalf of Investors By: The Law Offices of Frank R. Cruz via Business Wire May 30, 2024 at 14:17 PM EDT The Law Offices of Frank R. Cruz announces an investigation of Charge Enterprises, Inc. (“Charge” or the “Company”) on behalf of investors concerning the Company’s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On November 21, 2023, Charge disclosed that it had received a default notice from its senior lender, Arena Investors, LP (“Arena”), stating that its prior belief that it had “approximately $9.9 million of Company assets . . . in the form of cash, cash equivalents, marketable securities or similar readily liquid assets” was false; instead, these funds had been invested in KORR Value and were thus “not immediately able to be liquidated or readily accessible.” Charge warned that if it “[continued] not to have sufficient liquidity to pay the principal and interest on the [Arena] Notes. . . these circumstances could result in a default under other of the Company’s debt instruments and agreements that contain cross-default provisions” which would “have a material adverse effect on the Company’s liquidity, financial condition and results of operations, and may render the Company insolvent and unable to sustain its operations and continue as a going concern.” Then, on December 6, 2023, Charge revealed that it had received additional default notices from Arena and that the Company would be ceasing the operations of certain of its telecommunications subsidiaries in an effort to preserve liquidity. Then, on January 25, 2024, Charge disclosed that it had received a foreclosure notice, and that, to satisfy its outstanding debt, Arena would be holding an auction liquidate 100 percent of the equity interests in certain Charge subsidiaries. Then, on February 28, 2024, Charge announced that it had entered into a Restructuring Support Agreement with two affiliates of Arena. The following day, on February 9, 2024, NASDAQ suspending trading of Charge common stock. Then, on March 7, 2024, Charge filed its voluntary petition for bankruptcy. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased Charge securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20240530870564/en/Contacts The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
The Law Offices of Frank R. Cruz Announces Investigation of Charge Enterprises, Inc. (CRGE) on Behalf of Investors By: The Law Offices of Frank R. Cruz via Business Wire May 30, 2024 at 14:17 PM EDT The Law Offices of Frank R. Cruz announces an investigation of Charge Enterprises, Inc. (“Charge” or the “Company”) on behalf of investors concerning the Company’s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On November 21, 2023, Charge disclosed that it had received a default notice from its senior lender, Arena Investors, LP (“Arena”), stating that its prior belief that it had “approximately $9.9 million of Company assets . . . in the form of cash, cash equivalents, marketable securities or similar readily liquid assets” was false; instead, these funds had been invested in KORR Value and were thus “not immediately able to be liquidated or readily accessible.” Charge warned that if it “[continued] not to have sufficient liquidity to pay the principal and interest on the [Arena] Notes. . . these circumstances could result in a default under other of the Company’s debt instruments and agreements that contain cross-default provisions” which would “have a material adverse effect on the Company’s liquidity, financial condition and results of operations, and may render the Company insolvent and unable to sustain its operations and continue as a going concern.” Then, on December 6, 2023, Charge revealed that it had received additional default notices from Arena and that the Company would be ceasing the operations of certain of its telecommunications subsidiaries in an effort to preserve liquidity. Then, on January 25, 2024, Charge disclosed that it had received a foreclosure notice, and that, to satisfy its outstanding debt, Arena would be holding an auction liquidate 100 percent of the equity interests in certain Charge subsidiaries. Then, on February 28, 2024, Charge announced that it had entered into a Restructuring Support Agreement with two affiliates of Arena. The following day, on February 9, 2024, NASDAQ suspending trading of Charge common stock. Then, on March 7, 2024, Charge filed its voluntary petition for bankruptcy. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased Charge securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20240530870564/en/Contacts The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
The Law Offices of Frank R. Cruz announces an investigation of Charge Enterprises, Inc. (“Charge” or the “Company”) on behalf of investors concerning the Company’s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On November 21, 2023, Charge disclosed that it had received a default notice from its senior lender, Arena Investors, LP (“Arena”), stating that its prior belief that it had “approximately $9.9 million of Company assets . . . in the form of cash, cash equivalents, marketable securities or similar readily liquid assets” was false; instead, these funds had been invested in KORR Value and were thus “not immediately able to be liquidated or readily accessible.” Charge warned that if it “[continued] not to have sufficient liquidity to pay the principal and interest on the [Arena] Notes. . . these circumstances could result in a default under other of the Company’s debt instruments and agreements that contain cross-default provisions” which would “have a material adverse effect on the Company’s liquidity, financial condition and results of operations, and may render the Company insolvent and unable to sustain its operations and continue as a going concern.” Then, on December 6, 2023, Charge revealed that it had received additional default notices from Arena and that the Company would be ceasing the operations of certain of its telecommunications subsidiaries in an effort to preserve liquidity. Then, on January 25, 2024, Charge disclosed that it had received a foreclosure notice, and that, to satisfy its outstanding debt, Arena would be holding an auction liquidate 100 percent of the equity interests in certain Charge subsidiaries. Then, on February 28, 2024, Charge announced that it had entered into a Restructuring Support Agreement with two affiliates of Arena. The following day, on February 9, 2024, NASDAQ suspending trading of Charge common stock. Then, on March 7, 2024, Charge filed its voluntary petition for bankruptcy. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased Charge securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20240530870564/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com