ChargePoint $11 Million Securities Settlement, What Investors Need to Know

Official Settlement Website and Resources

What you need	Status as of October 1, 2026
Official settlement website	None yet. A settlement administrator and website are expected only after the court grants preliminary approval.
Claim form	Not available. Do not file with any site claiming otherwise.
Claim deadline	Not established
Opt-out and objection deadlines	Not established. They would be set by the court-approved notice.
Settlement administrator	None verified yet
Payment date	Not established
Where to watch for updates	The case docket (Khan v. ChargePoint, No. 5:23-cv-06172-NW, N.D. Cal.), ChargePoint’s SEC filings, and the lead counsel’s website
What to do now	Keep your ChargePoint brokerage records (see “What Investors Should Do Now” below)

Is the ChargePoint Settlement Final?

No. ChargePoint Holdings, Inc. has agreed in principle to an $11,000,000 proposed settlement to resolve a federal securities fraud lawsuit, but the court has not approved it yet and no claim form or payment deadline exists yet.

On September 28, 2026, ChargePoint signed a settlement term sheet in Farooq Khan v. ChargePoint Holdings, Inc., et al., Case No. 5:23-cv-06172-NW, in the U.S. District Court for the Northern District of California (San Jose). ChargePoint disclosed the agreement in a Form 8-K filed with the SEC on September 30, 2026.

If the court approves it, ChargePoint would pay $11,000,000 in cash to resolve the securities claims against the company and three former executives.

Quick Facts: ChargePoint $11 Million Securities Settlement

Detail	Information
Company	ChargePoint Holdings, Inc. (NYSE: CHPT)
Case	Farooq Khan v. ChargePoint Holdings, Inc., et al.
Case number	5:23-cv-06172-NW
Court	U.S. District Court, Northern District of California
Presiding judge	Hon. Noël Wise
Case type	Putative securities fraud class action
Proposed settlement	$11,000,000 cash
Term sheet signed	September 28, 2026
Class period	December 7, 2021 – November 16, 2023
Lead plaintiffs	Shahram Afshani and Paulina Afshani Schwartz
Lead counsel	Hagens Berman Sobol Shapiro LLP
Defendants	ChargePoint Holdings, Inc.; Pasquale Romano; Rex S. Jackson; Michael Hughes
Claims alleged	Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5
Admission of liability	No. Defendants deny wrongdoing.
Current status	Proposed settlement; court approval required
Claim form / deadline / payment date	Not available / not established / not established

What Is the Lawsuit About?

The lawsuit alleges that ChargePoint and several senior executives made materially false or misleading statements about the company’s business and financial condition. According to the court’s May 21, 2026 order, the lead plaintiffs allege misleading statements concerning:

• supply chain management;
• revenue growth;
• inventory values; and
• the company’s financial prospects.

Plaintiffs also allege a scheme involving revenue recognition and sales practices. The claims arise under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.

These are allegations. ChargePoint’s SEC filing states the proposed settlement is not an admission of wrongdoing or liability, and that all defendants deny wrongdoing.

What Did Investors Allege About Supply Chain and Inventory?

According to the court’s earlier orders, plaintiffs alleged that ChargePoint had trouble obtaining components needed to complete charging stations, with some parts affected by manufacturing problems and delays that continued into the class period. They allege the company nevertheless gave investors an overly positive picture of its ability to manage supply constraints and generate revenue.

Plaintiffs also allege employees were directed to engage in sales and inventory practices that allowed the company to pull future sales forward and recognize revenue early. The defendants dispute those allegations.

What Happened to ChargePoint’s Stock?

The complaint allegations summarized by the court identify two major stock declines:

• September 6, 2023: ChargePoint reported a $28 million inventory impairment charge tied to legacy supply-chain costs. The stock closed at $7.06 that day and $6.29 the next, a decline of about 11%.
• November 16, 2023: ChargePoint disclosed that revenue had fallen short of prior guidance and that it expected another $42 million non-cash impairment charge. The stock fell from $3.13 to $2.02 the next day, a decline of about 35%.

Plaintiffs contend these disclosures revealed information that had been concealed or inadequately disclosed. Those allegations haven’t been finally decided.

Who Is Named as a Defendant?

The proposed settlement would resolve claims against:

• ChargePoint Holdings, Inc.
• Pasquale Romano, former Chief Executive Officer
• Rex S. Jackson, former Chief Financial Officer
• Michael Hughes, former Chief Commercial and Revenue Officer

Who Could Be Affected?

The litigation concerns investors who purchased or otherwise acquired ChargePoint securities during the alleged class period: December 7, 2021 through November 16, 2023.

Don’t treat that range as a confirmed settlement eligibility period yet. The term sheet disclosed by ChargePoint doesn’t include the complete settlement agreement, notice, plan of allocation or final class definition. Once those are filed, they will set the definitive eligibility rules. Purchases before or after the class period are generally not covered by the case as described.

Both individual and institutional investors can be class members in a securities class action, and you don’t need to hire your own lawyer to take part.

Related article: Stamford Paid $11.25 Million in Tommie Jackson Wrongful Death Settlement, What the Court Records Show

Is It a Certified Class Action?

Class certification hasn’t been verified. The May 21, 2026 order describes the case as a “putative, consolidated class action.” A putative class action is brought on behalf of a proposed group, but the court hasn’t necessarily found that the group meets all requirements for class treatment. This article therefore calls it a putative securities class action.

How the Case Got Here

The case went through several amended complaints and motions to dismiss. The defendants obtained dismissal of the Second Amended Complaint in February 2026 with leave to amend. Plaintiffs then filed a Third Amended Complaint, and on May 21, 2026, Judge Wise denied the defendants’ motion to dismiss it, finding the amended pleading adequately addressed earlier deficiencies.

That ruling did not find ChargePoint liable. It meant the allegations were sufficient to proceed. The parties then signed the settlement term sheet in September.

What the $11 Million Means

Under the September 28 term sheet, ChargePoint would pay $11,000,000 in cash if the court approves the settlement. ChargePoint says the proposed deal is intended to eliminate the uncertainty, burden and expense of continued litigation.

The $11 million is a proposed gross amount, not what investors will divide. The amount available to class members could be reduced by court-approved attorneys’ fees, litigation expenses, administration costs and other court-authorized deductions. Fee requests in Ninth Circuit securities cases are often measured against a 25% benchmark, but the actual request, and the court’s decision on it, will appear in the settlement notice. No plan of allocation has been verified yet.

When Will the $11 Million Go Into Escrow?

The SEC filing says ChargePoint would pay the $11,000,000 into escrow within 21 days after the later of:

1. preliminary court approval of the proposed settlement; or
2. receipt of complete payment instructions.

That is a term of the proposed deal and doesn’t mean the money is available to investors.

Is There a Claim Form or Deadline?

Not yet. As of October 1, 2026, ChargePoint has signed a term sheet, not a court-approved settlement with a claims administrator and claims process. Nothing verified exists for:

• a claim filing deadline;
• an opt-out deadline;
• an objection deadline;
• a settlement administrator;
• a payment date; or
• a court-approved plan of allocation.

These details would normally appear in the settlement notice after preliminary approval. Be careful with websites or messages asking you to file a ChargePoint settlement claim before an official process exists. If a site asks for payment, brokerage login details or a Social Security number, verify it against the court documents first.

What Happens Next?

1. Final settlement agreement. ChargePoint says it expects to execute a final settlement agreement and seek preliminary approval within 30 calendar days of signing the term sheet. That is the company’s expected timetable, not a court deadline.
2. Preliminary approval. If the court grants it, it would generally set up a notice process covering eligibility, objections, exclusion and how to submit a claim.
3. Final approval hearing. The settlement still needs final approval from the court before the case can be fully resolved under the agreement.

ChargePoint’s SEC filing says the settlement remains subject to court approval and that there is no assurance it will be approved.

What Investors Should Do Now

You don’t need to submit a claim now. You can prepare:

1. Locate your trade records. Find brokerage confirmations and statements showing trade dates, buy or sell, share counts and prices for ChargePoint securities from December 7, 2021 to November 16, 2023, and your holdings at the start and end of that period.
2. Keep your sales records too. A future plan of allocation could require sale dates, share counts and prices to calculate a recognized loss, so don’t keep only the purchase information.
3. Don’t file with an unverified site. No settlement administrator or claim form has been verified.
4. Watch for the filings. The next development should be the final settlement agreement and request for preliminary approval.

If you later receive a payment, tax treatment depends on your cost basis and when you sold. Ask a tax professional about your situation.

For a completed securities settlement with a different company, see $69M ChemoCentryx Investor Securities Settlement, Check If You Qualify for a Payment. Its deadlines and eligibility rules don’t apply to ChargePoint.

Key Dates

Date	Event
December 7, 2021	Alleged class period begins
November 16, 2023	Alleged class period ends
November 29, 2023	Khan lawsuit filed
May 16, 2024	Khan and a related action consolidated
February 20, 2026	Court dismisses Second Amended Complaint with leave to amend
March 3, 2026	Third Amended Complaint filed
May 21, 2026	Court denies motion to dismiss Third Amended Complaint
September 28, 2026	ChargePoint signs settlement term sheet
September 30, 2026	ChargePoint discloses proposed settlement in SEC Form 8-K
Next step	Final settlement agreement and request for preliminary approval
Claim deadline	Not established

Frequently Asked Questions

Is the ChargePoint $11 million settlement final?

No. ChargePoint signed a term sheet on September 28, 2026, and the settlement remains subject to court approval.

What is the case number?

Farooq Khan v. ChargePoint Holdings, Inc., et al., No. 5:23-cv-06172-NW, U.S. District Court for the Northern District of California.

What is the class period?

December 7, 2021 through November 16, 2023, for the putative class action.

Who are the lead plaintiffs?

Shahram Afshani and Paulina Afshani Schwartz, appointed after the related cases were consolidated.

What did investors allege?

That ChargePoint and certain executives made materially false or misleading statements about supply-chain management, revenue growth and inventory value, and engaged in an alleged revenue-recognition scheme, in violation of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5.

Has a judge found ChargePoint liable?

No. In May 2026, the court denied a motion to dismiss, allowing the allegations to proceed. The proposed settlement is not an admission of wrongdoing or liability.

Do I need to file a claim now?

No. No claim form has been verified yet.

Is there a claim deadline?

No investor claim, opt-out or objection deadline has been established as of October 1, 2026.

Is there an official settlement website?

Not yet. A website and administrator are normally set up after preliminary approval.

How much will each investor receive?

No individual amount has been established. It will depend on the final settlement terms, court-approved deductions and the plan of allocation, and typically on factors such as when you bought and sold your shares and at what prices.

When will investors get paid?

There’s no verified payment date. The settlement first has to go through court approval and the claims process.

Do I need my own lawyer to take part?

No. Court-appointed lead counsel represents the class. You’d generally just submit a claim form if and when a claims process opens.

Bottom Line

ChargePoint has proposed an $11,000,000 cash settlement to resolve the securities fraud case Khan v. ChargePoint Holdings, Inc., No. 5:23-cv-06172-NW, covering a proposed class period of December 7, 2021 through November 16, 2023. It is not final yet. ChargePoint expects to sign a final agreement and seek preliminary approval within 30 days of the term sheet, and the $11 million would go into escrow only after the conditions in the proposed deal are met.

For now, keep your ChargePoint trading records and wait for the official court-approved notice. There is no verified claim form, claim deadline, opt-out deadline, payment date or settlement administrator yet.

This article is for general informational purposes only and is not legal advice. AllAboutLawyer.com is not a law firm and does not provide legal representation. Settlement terms and court proceedings can change, so review the official court filings and any court-approved notice for the most current information.

Sources & Primary Documents

1. U.S. Securities and Exchange Commission, ChargePoint Holdings, Inc. Form 8-K dated September 30, 2026, reporting the September 28 settlement term sheet: https://www.sec.gov/Archives/edgar/data/1777393/000162828026063975/chpt-20260928.htm
2. U.S. District Court, Northern District of California, order of May 21, 2026 denying defendants’ motion to dismiss the Third Amended Complaint, Khan v. ChargePoint Holdings, Inc., No. 5:23-cv-06172-NW.
3. U.S. District Court, Northern District of California, order of February 20, 2026 addressing the Second Amended Complaint, Khan v. ChargePoint Holdings, Inc., No. 5:23-cv-06172-NW.