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Submit Your Information for the Proterra Inc. Lawsuit

Lead plaintiff deadline is September 12, 2023

If you purchased or acquired Proterra securities between August 2, 2022 and March 15, 2023, please contact Berger Montague using the form below.

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About the Case

According to the lawsuit, Proterra and the defendants consistently touted Proterra’s strong financial position.

The truth was revealed on March 15, 2023 when Proterra released quarterly earnings for the fourth quarter of 2022 and reported a net loss of $81 million and a gross loss of $20.3 million in the fourth quarter of 2022. The company also announced that it expected the audit report included in the 10-K annual report would contain a “going concern” qualification, which would be an event of default under company debt agreements. Finally, the company announced that it had obtained a limited waiver under its convertible notes for violating a minimum liquidity covenant.

Following this news, Proterra’s stock price dropped from a March 15, 2023 closing price of $2.51 to a March 16, 2023 closing price of $1.16—a loss of $1.35 per share representing nearly 53% of its value.

Investors who purchased or acquired Proterra securities between August 2, 2022 and March 15, 2023, may no later than September 12, 2023, seek to be appointed as a lead plaintiff representative of the class.