New York, New York--(Newsfile Corp. - April 8, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of XL Fleet Corp. (NYSE: XL) alleging that the Company violated federal securities laws.
Class Period: October 2, 2020 and March 2, 2021
Lead Plaintiff Deadline: May 7, 2021
Learn more about your recoverable losses in XL:
The filed complaint alleges that XL Fleet Corp. made 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.
Shareholders have until May 7, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the XL lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79831