|Company Name||XL Fleet Corp.|
|Class Period||October 2, 2020 to March 2, 2021|
|Motion Deadline||May 7, 2021|
The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of XL Fleet Corp. (NYSE: XL). The case is currently in the lead plaintiff stage. Investors who purchased XL stock or other securities between October 2, 2020 and March 2, 2021 may contact the Thornton Law Firm’s investor protection team by submitting their information above. Investors may also email firstname.lastname@example.org or call 617-531-3917.
The case alleges that XL Fleet and its senior executives made misleading statements to investors and failed to disclose that: (1) XL Fleet’s salespeople were pressured to inflate their sales pipelines to boost XL Fleet’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; and (4) XL Fleet lacks the supply chain and engineers to roll out new products on the announced timelines.
Interested XL Fleet investors have until May 7, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. Investors do not need to be a lead plaintiff in order to be a class member. A lead plaintiff acts on behalf of all other investor class members in managing the class action. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
A class action lawsuit has been filed on behalf of investors in XL Fleet Corp. (XL) securities.
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