{"id":469735,"date":"2021-04-01T09:03:28","date_gmt":"2021-04-01T13:03:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469735"},"modified":"2021-04-01T09:03:28","modified_gmt":"2021-04-01T13:03:28","slug":"robbins-geller-rudman-dowd-llp-announces-lead-plaintiff-deadline-in-the-xl-fleet-corp-class-action-lawsuit","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/robbins-geller-rudman-dowd-llp-announces-lead-plaintiff-deadline-in-the-xl-fleet-corp-class-action-lawsuit\/","title":{"rendered":"Robbins Geller Rudman &amp; Dowd LLP Announces Lead Plaintiff Deadline in the XL Fleet Corp. Class Action Lawsuit"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Robbins Geller Rudman &amp; Dowd LLP Announces Lead Plaintiff Deadline in the <i>XL Fleet Corp.<\/i> Class Action Lawsuit<\/b><\/p>\n<p>SAN DIEGO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nRobbins Geller Rudman &amp; Dowd LLP announces that purchasers of XL Fleet Corp. (NYSE:XL) securities between October 2, 2020 and March 2, 2021, inclusive (the \u201cClass Period\u201d) have until May 7, 2021 to seek appointment as lead plaintiff in the <i>XL Fleet<\/i> class action lawsuit, <i>Suh v. XL Fleet Corp., <\/i>No. 21-cv-02002 (S.D.N.Y.), which is assigned to Judge Lorna G. Schofield.\n<\/p>\n<p>\nThe Private Securities Litigation Reform Act of 1995 permits any investor who purchased XL Fleet securities during the Class Period to seek appointment as lead plaintiff in the <i>XL Fleet <\/i>class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the <i>XL Fleet <\/i>class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the <i>XL Fleet<\/i> class action lawsuit. An investor\u2019s ability to share in any potential future recovery of the <i>XL Fleet<\/i> class action lawsuit is not dependent upon serving as lead plaintiff. <b>If you wish to serve as lead plaintiff of the <i>XL Fleet<\/i> class action lawsuit or have questions concerning your rights regarding the <i>XL Fleet<\/i> class action lawsuit, please provide your information <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.rgrdlaw.com%2Fcases-xl-fleet-corp-class-action-lawsuit.html&amp;esheet=52405197&amp;newsitemid=20210401005154&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=193526067e0ace3bcc1135bf98891d3e\">here<\/a> or contact counsel, J.C. Sanchez of Robbins Geller, at 800\/449-4900 or 619\/231-1058 or via e-mail at <a rel=\"nofollow\" href=\"mailto:jsanchez@rgrdlaw.com\">jsanchez@rgrdlaw.com<\/a>. Lead plaintiff motions for the<i> XL Fleet<\/i> class action lawsuit must be filed with the court no later than May 7, 2021.<\/b><\/p>\n<p>\nXL Fleet provides vehicle electrification solutions for commercial and municipal fleets in North America, offering hybrid and plug-in hybrid electric drive systems. XL Fleet formed via the merger of XL Hybrids, Inc. and Pivotal Investment Corporation II (\u201cPivotal\u201d), which closed on or about December 22, 2020. Pivotal was a special purpose acquisition company (\u201cSPAC\u201d).\n<\/p>\n<p>\nThe<i> XL Fleet <\/i>class action lawsuit alleges that, throughout the Class Period, defendants made false and\/or misleading statements and\/or failed to disclose that: (i) XL Fleet\u2019s salespeople were pressured to inflate their sales pipelines to boost XL Fleet\u2019s reported sales and backlog; (ii) at least 18 of the 33 customers that XL Fleet featured were inactive and had not placed an order since 2019; (iii) XL Fleet\u2019s technology had been materially overstated and offered only 5% to 10% of fleet savings; (iv) XL Fleet lacked the supply chain and engineers to roll out new products on the announced timelines; and (v) as a result of the foregoing, defendants\u2019 positive statements about XL Fleet\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n<p>\nOn 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 [Fleet]\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 [Fleet] featured were inactive.\u201d Muddy Waters also claimed that XL Fleet 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 [Fleet] engineers to deliver on the promised timeline.\u201d On this news, XL Fleet\u2019s share price fell approximately 13%, damaging investors.\n<\/p>\n<p>\nRobbins Geller Rudman &amp; Dowd LLP is one of the world\u2019s leading law firms representing investors in securities class action litigation. With 200 lawyers in 9 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For eight consecutive years, ISS Securities Class Action Services has ranked the Firm in its annual SCAS Top 50 Report as one of the top law firms in the world in both amount recovered for shareholders and total number of class action settlements. Robbins Geller attorneys have helped shape the securities laws and have recovered tens of billions of dollars on behalf of aggrieved victims. Beyond securing financial recoveries for defrauded investors, Robbins Geller also specializes in implementing corporate governance reforms, helping to improve the financial markets for investors worldwide. Robbins Geller attorneys are consistently recognized by courts, professional organizations, and the media as leading lawyers in the industry. Please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.rgrdlaw.com&amp;esheet=52405197&amp;newsitemid=20210401005154&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.rgrdlaw.com&amp;index=2&amp;md5=00da805ddbf159f8552483792d465927\">http:\/\/www.rgrdlaw.com<\/a> for more information.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210401005154r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210401005154\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210401005154\/en\/<\/a><\/span><\/p>\n<p>\nRobbins Geller Rudman &amp; Dowd LLP<br \/>\n<br \/>J.C. Sanchez, 800-449-4900<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jsanchez@rgrdlaw.com\">jsanchez@rgrdlaw.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210401005154\/en\/221960\/3\/RGRD_FINAL.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Robbins Geller Rudman &amp; Dowd LLP Announces Lead Plaintiff Deadline in the XL Fleet Corp. Class Action Lawsuit SAN DIEGO&#8211;(BUSINESS WIRE)&#8211; Robbins Geller Rudman &amp; Dowd LLP announces that purchasers of XL Fleet Corp. (NYSE:XL) securities between October 2, 2020 and March 2, 2021, inclusive (the \u201cClass Period\u201d) have until May 7, 2021 to seek appointment as lead plaintiff in the XL Fleet class action lawsuit, Suh v. XL Fleet Corp., No. 21-cv-02002 (S.D.N.Y.), which is assigned to Judge Lorna G. Schofield. The Private Securities Litigation Reform Act of 1995 permits any investor who purchased XL Fleet securities during the Class Period to seek appointment as lead plaintiff in the XL Fleet class action lawsuit. A lead plaintiff is generally &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/robbins-geller-rudman-dowd-llp-announces-lead-plaintiff-deadline-in-the-xl-fleet-corp-class-action-lawsuit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Robbins Geller Rudman &amp; Dowd LLP Announces Lead Plaintiff Deadline in the XL Fleet Corp. Class Action Lawsuit&#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-469735","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Robbins Geller Rudman &amp; Dowd LLP Announces Lead Plaintiff Deadline in the XL Fleet Corp. Class Action Lawsuit - 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\/robbins-geller-rudman-dowd-llp-announces-lead-plaintiff-deadline-in-the-xl-fleet-corp-class-action-lawsuit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Robbins Geller Rudman &amp; Dowd LLP Announces Lead Plaintiff Deadline in the XL Fleet Corp. Class Action Lawsuit - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Robbins Geller Rudman &amp; Dowd LLP Announces Lead Plaintiff Deadline in the XL Fleet Corp. Class Action Lawsuit SAN DIEGO&#8211;(BUSINESS WIRE)&#8211; Robbins Geller Rudman &amp; Dowd LLP announces that purchasers of XL Fleet Corp. (NYSE:XL) securities between October 2, 2020 and March 2, 2021, inclusive (the \u201cClass Period\u201d) have until May 7, 2021 to seek appointment as lead plaintiff in the XL Fleet class action lawsuit, Suh v. XL Fleet Corp., No. 21-cv-02002 (S.D.N.Y.), which is assigned to Judge Lorna G. Schofield. The Private Securities Litigation Reform Act of 1995 permits any investor who purchased XL Fleet securities during the Class Period to seek appointment as lead plaintiff in the XL Fleet class action lawsuit. A lead plaintiff is generally &hellip; Continue reading &quot;Robbins Geller Rudman &amp; Dowd LLP Announces Lead Plaintiff Deadline in the XL Fleet Corp. 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