According to the Complaint, Renewable Innovations, Inc. is focused on designing, optimizing, developing, and producing modular, scalable, zero-carbon green renewable solutions. Renewable Innovations represented to the public that its initial focus was on mobile and stationary electric vehicle rapid charging. This lawsuit is filed against Renewable Innovations and two of its Officers and Directors.

On September 14, 2023, Renewable Innovations was delisted from all trading platforms for failure to comply with SEC filing requirements.

The Complaint alleges that, throughout the Class Period, Defendants failed to comply with their fiduciary and legal obligations by: (i) selecting an inexperienced and inadequate accounting firm with little to no experience in the preparation of financial statements for public companies to prepare the Company’s financial statements, (ii) intentionally neglecting to oversee and manage the efforts of such accounting firm, and (iii) intentionally abandoning all efforts to cure their breaches, failures and gross mismanagement, which resulted in (A) the Company’s delisting from the OTCQB, (B) the Company’s loss of access to the public capital markets to raise capital, (C) the shareholders’ complete loss of their ability to sell their shares, and (D) substantial harm to the shareholders of Renewable Innovations.

Plaintiffs filed an amended Complaint on January 22, 2025.

On March 5, 2025, the Defendants filed a Motion asking for dismissal of the above amended Complaint. The Court issued an Order on June 30 granting this Motion. The Plaintiffs' amended Complaint was dismissed without prejudice.