XL Fleet Corp.
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Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of XL Fleet Corp. from October 2, 2020 through March 2, 2021 (the “Class Period”). The lawsuit seeks to recover damages for XL Fleet Corp. investors under the federal securities laws.
If you bought XL Fleet Corp. securities between October 2, 2020 through March 2, 2021, and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against XL Fleet Corp. – XL
New York, N.Y., March 11, 2021. Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of XL Fleet Corp. (NYSE: XL) between October 2, 2020 and March 2, 2021, inclusive (the “Class Period”).
To join the XL class action, go to http://zhanginvestorlaw.com/cases/xl-fleet-corp/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email email@example.com for information on the class action.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
According to the lawsuit, throughout the Class Period (1) XL Fleet’s salespeople were pressured to inflate their sales pipelines to boost the Company’s reported sales and backlog; (2) at least 18 of the 33 customers that XL Fleet featured were inactive and had not placed an order since 2019; (3) XL Fleet’s technology had been materially overstated and offered only 5% to 10% of fleet savings; (4) XL Fleet lacks the supply chain and engineers to roll out new products on the announced timeline; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. According to the suit, these true details were disclosed by a market research firm.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 7, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/xl-fleet-corp/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at firstname.lastname@example.org.
Zhang Investor Law represents investors worldwide.