{"id":469276,"date":"2021-03-31T19:26:01","date_gmt":"2021-03-31T23:26:01","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469276"},"modified":"2021-03-31T19:26:01","modified_gmt":"2021-03-31T23:26:01","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-xl-fleet-corp-xl-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-xl-fleet-corp-xl-2\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against XL Fleet Corp. (XL)"},"content":{"rendered":"<h2>\nShareholders with $50,000 losses or more are encouraged to contact the firm<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">LOS ANGELES, March  31, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ulMx1Uj_nlA1vQ_yO-kEpHn2Mepyo-9RDsEPHsUwR5j9rfMFbsqDDWnRckZnFrDdZNMmivjqSGihiA_4ZJfCaociLIW2f7mGMzCBmU2L-zY=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming\u00a0<strong>May 7, 2021<\/strong><strong>\u00a0<\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired XL Fleet Corp. (\u201cXL Fleet\u201d or the \u201cCompany\u201d) (NYSE: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zuTvVrKK5MXWSkXXAlkNqzrJdm4pIteHg-Q4W-pUchf9CSjmiurUTgzFAFWBuz2x-ZfvPPNsNotEMm7lfoXqpw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">XL<\/a>) securities between <strong>October 2, 2020 and March 2, 2021<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<p>If you suffered a loss on your XL Fleet investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=7jjazNe--cdN2pk0xwurjQcmFVDKYY_RMG8M3mfbxTfyJdL263a7GtsTooW-w0TIHTaVxwfZQ4V7srcRYgXS8JLrJT6EH_g-ceYr1Wq0ksWmIfhjlHQV3k4NtWRz8ZSJ_vuYDY9htsQVBZt9oq5uXNOQAmx90qDIQIkPRoBItuE=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.glancylaw.com\/cases\/xl-fleet-corp\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mVOqurBtVpCYhgg1ul3S405jq9gldQw2ukWDVNm4n7CqWMOLe-qdjlLSN6Uzv89nvSJFtcZpWRzDevFypM39aLRyMCHUVRqRzbcbKvmty8TLIb_gYPzrKtIjfREUha2N\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>On March 3, 2021, Muddy Waters Research published a report entitled \u201cXL Fleet Corp. (NYSE: XL): More SPAC Trash,\u201d alleging, among other things, that salespeople \u201cwere pressured to inflate their sales pipelines materially in order to mislead XL\u2019s board and investors\u201d and that \u201ccustomer reorder rates are in reality quite low\u201d due to \u201cpoor performance and regulatory issues.\u201d Citing interviews with former employees, the report alleged that \u201cat least 18 of 33 customers XL featured were inactive.\u201d Muddy Waters also claimed that XL has \u201cweak technology\u201d and that \u201cXL\u2019s announcement of future class 7-8 upfits seems highly promotional\u201d because the task is \u201ctoo technologically complex for XL engineers to deliver on the promised timeline.\u201d<\/p>\n<p>On this news, the Company\u2019s stock price fell $2.09, or 13%, to close at $13.86 per share on March 3, 2021, on unusually heavy trading volume. The share price continued to decline by $2.69, or 19.4%, over two consecutive trading sessions to close at $11.17 per share on March 5, 2021, on unusually heavy trading volume.<\/p>\n<p>The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that XL Fleet\u2019s salespeople were pressured to inflate their sales pipelines to boost the Company\u2019s reported sales and backlog; (2) that at least 18 of the 33 customers that XL featured were inactive and had not placed an order since 2019; (3) that XL\u2019s technology had been materially overstated and offered only 5% to 10% of fleet savings; (4) that XL lacks the supply chain and engineers to roll out new products on the announced timelines; and (5) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=N7lB5zOQP6VrVIXRC2H5fUGeGhpeOcwD8UIvmulq002Wx-jNMhJ-gLxpZfK5zq48lQ0NRSgYYkF2nDTb0PTJaZU9Af59cytUk054FmP2_nxkMvF1Ys-ZHABYf1cJUgHy\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Bzwwo72D1HRoM4Bek8u-dWiqV0RiUIf-TZlMBkdIFjwswyV0i5xBrq9q-lbwFnq85BqxldTXdIKeNnUPTPHf-Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=SilUk_5TGEhZ43YwALy6h9GZ0HYojwdxOfDs3drzJj7fdIAjddcL0YXqJakWHdLsQxTf7GfDui2MPNLIPXpwLpWKit-k9RwProiyDbGGRTw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/p>\n<p>If you purchased or otherwise acquired XL Fleet securities during the Class Period, you may move the Court no later than\u00a0<strong>May 7, 2021 <\/strong>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mVOqurBtVpCYhgg1ul3S405jq9gldQw2ukWDVNm4n7B0A8R-1fczpFS3jP1Gp-luIb8wFZd3v53Uvi76t5-GUCRAAdcGuPpnAu5G7r47pZph6b5rNx1S2yT5zmcnUO5V\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zd5n4uqDLNJN5MT67RXszLK0PL42-t-Z8nAHK4qREO4aaK-hqHiungI6wvnF1IZGV8AKBW7UHJUTF8FipoeIHg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts <\/strong><br \/>\n        <br \/>Glancy Prongay &amp; Murray LLP, Los Angeles <br \/>Charles Linehan, 310-201-9150 or 888-773-9224 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mVOqurBtVpCYhgg1ul3S405jq9gldQw2ukWDVNm4n7B5fYpjAXDZdRlpGB9Ezqxb6zhZFXRw_2GilQawZWH-ZIdZ6Ucocea0AXDPBP8xhd5NLJ8BWRJDphvz86UPYOyj\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zd5n4uqDLNJN5MT67RXszEPsN4pujoX75hjDwAcc1WrE4Mdw0oFaT5EmPe_T8QDcnKkIiONWBGs5Av2Jfo2c2Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIwOTg4OSM0MTAxNDkxIzIwMTcyOTE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/794f1713-67fb-4de7-b2b0-8cc17e2f41e8\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shareholders with $50,000 losses or more are encouraged to contact the firm LOS ANGELES, March 31, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0May 7, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired XL Fleet Corp. (\u201cXL Fleet\u201d or the \u201cCompany\u201d) (NYSE: XL) securities between October 2, 2020 and March 2, 2021, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your XL Fleet investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/xl-fleet-corp\/. You can also contact Charles H. Linehan, of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-xl-fleet-corp-xl-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against XL Fleet Corp. (XL)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-469276","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against XL Fleet Corp. (XL) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-xl-fleet-corp-xl-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against XL Fleet Corp. (XL) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Shareholders with $50,000 losses or more are encouraged to contact the firm LOS ANGELES, March 31, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0May 7, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired XL Fleet Corp. (\u201cXL Fleet\u201d or the \u201cCompany\u201d) (NYSE: XL) securities between October 2, 2020 and March 2, 2021, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your XL Fleet investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/xl-fleet-corp\/. You can also contact Charles H. 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(XL) - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-xl-fleet-corp-xl-2\/","og_locale":"en_US","og_type":"article","og_title":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against XL Fleet Corp. (XL) - Market Newsdesk","og_description":"Shareholders with $50,000 losses or more are encouraged to contact the firm LOS ANGELES, March 31, 2021 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0May 7, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired XL Fleet Corp. (\u201cXL Fleet\u201d or the \u201cCompany\u201d) (NYSE: XL) securities between October 2, 2020 and March 2, 2021, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your XL Fleet investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/xl-fleet-corp\/. You can also contact Charles H. Linehan, of &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against XL Fleet Corp. (XL)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-xl-fleet-corp-xl-2\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-31T23:26:01+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIwOTg4OSM0MTAxNDkxIzIwMTcyOTE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-xl-fleet-corp-xl-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-xl-fleet-corp-xl-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against XL Fleet Corp. 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