XL INVESTOR NOTICE: ROSEN, NATIONAL TRIAL LAWYERS, Encourages XL Fleet Corp. Investors to Secure Counsel Before Important May 7 Deadline in Securities Class Action – XL
NEW YORK, April 19, 2021 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of XL Fleet Corp. (NYSE: XL) between October 2, 2020 and March 2, 2021, inclusive (the “Class Period”), of the important May 7, 2021 lead plaintiff deadline.
SO WHAT: If you purchased XL Fleet securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the XL Fleet class action, go to http://www.rosenlegal.com/cases-register-2055.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 7, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made 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 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; (4) XL Fleet lacks the supply chain and engineers to roll out new products on the announced timeline; and (5) as a result of the foregoing, defendants’ positive statements about XL Fleet’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.