Blink Charging Co. $3.75M Securities Class Action Settlement

If you purchased or otherwise acquired Blink Charging Co. securities between March 6, 2020, and August 19, 2020, you may be eligible to claim an award from a class action settlement.

Blink Charging Co. has agreed to pay $3,750,000 to settle a class action lawsuit for alleged violations of federal securities laws, including making materially false and misleading statements regarding the functionality of Blink’s electric vehicle charging station network.

Who can submit a claim?

Anyone who purchased or otherwise acquired Blink Charging Co. securities between March 6, 2020, and August 19, 2020, and was damaged thereby, can submit a claim. This includes individuals and entities who bought Blink common stock during this period.

To be extremely detailed, you must have purchased or acquired Blink securities during the specified period and experienced a financial loss due to the alleged misstatements and omissions by Blink Charging Co. and its executives.

• Individuals who bought Blink common stock between March 6, 2020, and August 19, 2020.
• Entities that acquired Blink securities during the same period.

How much can class members get?

The settlement amount is $3,750,000, which will be distributed among eligible class members. The estimated average recovery is $0.17 per affected share of Blink securities, before the deduction of any court-approved fees, expenses, and costs.

Class members' awards will be calculated based on the Plan of Allocation, which considers the number of shares purchased, the purchase price, and the dates of purchase and sale. The Net Settlement Fund will be distributed on a pro rata basis among all eligible claimants.

• Shares purchased between March 6, 2020, and August 18, 2020: These shares have a per-share price inflation of $2.35.
• Shares purchased on August 19, 2020: These shares have a per-share price inflation of $1.54.

Is proof required to submit a claim?

Yes, claimants need to provide proof of their transactions in Blink securities during the Settlement Class Period. This includes brokerage confirmation slips or monthly brokerage account statements, or an authorized statement from your broker containing the transactional and holding information.

• Proof of purchase or acquisition during the Settlement Class Period.
• Proof of sales during the Settlement Class Period and the 90-day lookback period.

How to claim an award

To claim an award, you can submit your claim online or by mail. To file a claim online, visit the online claim form. If you prefer to submit your claim by mail, send your completed claim form to:

Blink Charging Co. Securities Litigation

c/o Strategic Claims Services

P.O. Box 230

600 N. Jackson Street, Suite 205

Media, PA 19063

Ensure that your claim form is postmarked no later than December 4, 2024.

How do I get paid?

Once your claim is approved, you will receive your payment via check or electronic transfer, depending on the option you selected on your claim form.

$3,750,000 Settlement Fund

The settlement fund of $3,750,000 will cover the following:

• Payments to eligible class members.
• Attorneys’ fees not to exceed 33.4% of the Settlement Fund plus interest.
• Reimbursement of litigation expenses up to $185,000 plus interest.
• Awards to lead plaintiffs not to exceed $9,000 in total.

Important dates

• Fairness Hearing: October 23, 2024
• Deadline to File a Claim: December 4, 2024

When is the Blink Charging Settlement payout date?

The awards will be paid after the court grants final approval and all claims have been processed, which may take several months.

Why is there a class action settlement?

The class action lawsuit alleges that Blink Charging Co. and its executives made materially false and misleading statements about the functionality of Blink’s electric vehicle charging station network, which caused investors to purchase Blink securities at inflated prices.

What happens next?

Next, the court will hold a Fairness Hearing on October 23, 2024, to determine whether to grant final approval to the settlement. If approved, the Claims Administrator will begin processing claims and distributing payments to eligible class members.