SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of XL Fleet Corp. of a Class Action Lawsuit and a Lead Plaintiff Deadline of May 7, 2021 - XL

Newsfile Corp.
·2 min read

New York, New York--(Newsfile Corp. - April 12, 2021) - The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of XL Fleet Corp..

Shareholders who purchased shares of XL during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/xl-fleet-corp-loss-submission-form/?id=14598&from=5

CLASS PERIOD : October 2, 2020 to March 2, 2021

<b>ALLEGATIONS :</b> The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (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 featured were inactive and had not placed an order since 2019; (3) XL's technology had been materially overstated and offered only 5% to 10% of fleet savings; (4) XL lacks the supply chain and engineers to roll out new products on the announced timelines; 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.

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80210