XL LAWSUIT: The Law Offices of Vincent Wong Notify Investors of a Class Action Lawsuit Involving XL Fleet Corp.
New York, New York--(Newsfile Corp. - April 12, 2021) - The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased XL Fleet Corp. ("Xl Fleet") (NYSE: XL) between October 2, 2020 and March 2, 2021.
If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
Allegations against XL include that the Company 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.
If you suffered a loss in Xl Fleet you have until May 7, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80172.