NEW YORK, April 21, 2021 (GLOBE NEWSWIRE) -- 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 class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=xl-fleet-corp&id=2656 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
If you wish to serve as lead plaintiff, you must move the Court before the May 7, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that- XL Fleet’s salespeople were pressured to inflate their sales pipelines to boost the Company’s reported sales and backlog; at least 18 of the 33 customers that XL Fleet featured were inactive and had not placed an order since 2019; XL Fleet’s technology had been materially overstated and offered only 5% to 10% of fleet savings; XL Fleet lacks the supply chain and engineers to roll out new products on the announced timeline; and 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.
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.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
tel: (800) 991-3756