Blink Charging Co. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
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CURRENT REPORT ON FORM 8-K
Blink Charging Co. (the “Company”)
September 2, 2025
Item 8.01. Other Events.
On August 15, 2025, the Clark County, Nevada District Court (the “Court”) granted preliminary approval of the proposed settlement (the “Proposed Settlement”) of the derivative action captioned McCauley (derivatively on behalf of Blink Charging Co.) v. Farkas, et al., Case No. A-22-847894-C (the “Derivative Action”). The Proposed Settlement is subject to final approval by the Court.
Subject to final approval of the Proposed Settlement by the Court, and in exchange for a release of all claims by the plaintiffs and a dismissal with prejudice of the Derivative Action and a related consolidated derivative action filed in Miami Dade County, Florida Circuit Court captioned In re Blink Charging Company Stockholder Derivative Litigation, Lead Case No. 2020-019815-CA-01 (together, the “Derivative Litigation”), the Proposed Settlement involves the Company implementing certain corporate governance reforms and for attorneys’ fees and expenses in the amount of $553,750 to be paid to plaintiffs’ counsel, which includes payments of up to $2,000 to each named plaintiff. The Company expects the entire amount, including all attorneys’ fees, expenses and named plaintiff payments, to be paid by the Company’s insurer. The Proposed Settlement does not require the director defendants to make any monetary payment as part of the settlement. The Derivative Litigation involves claims of breach of fiduciary duties, corporate waste and unjust enrichment against former and current members of the Company’s Board of Directors and the Company’s former Chief Financial Officer for allegedly causing the Company to make certain statements at issue in a securities class action captioned Bush v. Blink Charging Co., et al., Case No. 20-cv-23527, filed in the U.S. District Court for the Southern District of Florida (the “Bush Lawsuit”), and as a result, the Company incurred costs defending against the Bush Lawsuit and other unidentified investigations. The Bush Lawsuit was settled by the parties and a final judgment was entered in October 2024.
The defendants deny any fault, liability or wrongdoing of any kind associated with the claims alleged in the Derivative Litigation, and there has been no adjudication of the merits of the underlying claims.
As required by the preliminary approval order, the Notice of Pendency and Proposed Settlement of Derivative Actions (the “Notice”) and the Stipulation and Agreement of Settlement dated June 26, 2025 (the “Stipulation”), are attached as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K. The Notice and Stipulation can also be accessed on the “Investor Relations” page of the Company’s website at ir.blinkcharging.com. Other information contained in or accessible through the Company’s website does not constitute part of, and is not incorporated into, this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.
| Exhibit No. | Description | |
| 99.1 | Notice of Pendency and Proposed Settlement of Derivative Actions. | |
| 99.2 | Stipulation and Agreement of Settlement. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BLINK CHARGING CO. | ||
| Date: September 2, 2025 | By: | /s/ Michael C. Battaglia |
| Name: | Michael C. Battaglia | |
| Title: | President and Chief Executive Officer | |