Proterra General Counsel Resigns Amid Bankruptcy Warning

Proterra (PTRAQ) has released an update.

Jeffrey E. Mitchell resigned as General Counsel of the Company on February 1, 2024, coinciding with the closure of the Powered Sale. The Company issued a warning to its stockholders about the high risks and speculative nature of trading its common stock during its ongoing bankruptcy proceedings. The proposed reorganization plan suggests that common stockholders are unlikely to receive any recovery post-bankruptcy, potentially rendering the shares worthless, and urges shareholders to exercise extreme caution regarding their investments.

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For a comprehensive understanding of the announcement, you can read the full document here.