{"id":471649,"date":"2021-04-06T08:33:29","date_gmt":"2021-04-06T12:33:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=471649"},"modified":"2021-04-06T08:33:29","modified_gmt":"2021-04-06T12:33:29","slug":"kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/","title":{"rendered":"Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">PHILADELPHIA, April  06, 2021  (GLOBE NEWSWIRE) &#8212; Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against XL Fleet Corp. (\u201cXL Fleet\u201d or the \u201cCompany\u201d) (NYSE: XL), formerly known as Pivotal Investment Corp. II (\u201cPivotal\u201d) (NYSE: PIC), on behalf of investors who purchased or acquired XL or PIC securities between October 2, 2020 and March 2, 2021 (the \u201cClass Period\u201d).<\/p>\n<p>On September 18, 2020, Pivotal, a publicly traded Special Purpose Acquisition Company, announced that it had entered into a definitive agreement to merge with XL. According to the complaint, in connection with the proposed transaction, Pivotal filed a defective Registration Statement with the SEC which contained numerous materially false and misleading statements about XL Fleet\u2019s business, operations, and prospects. Following the filing of the Registration Statement, shares of the Company\u2019s stock increased in value to over $32.00 per share by December 23, 2020.<\/p>\n<p>On March 3, 2021, Muddy Waters 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 also alleged that \u201cat least 18 of 33 customers XL featured were inactive.\u201d\u00a0<strong><em>Following this report, shares of the Company\u2019s stock fell over 34% in value over the following week, to close at $10.48 per share on March 8, 2020.<\/em><\/strong><\/p>\n<p>XL Fleet investors who purchased or acquired PIC or XL securities <strong><em>prior to December 7, 2020 <\/em><\/strong>are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 \u2013 1585, or by email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=WyfSKRVQdt1k69NZD1U7FvTxYiN1TMwSsxiREmwp4JvaWGBqVZUvUX19YAyUrL4OxSlmOgaeUIJNflgfEz594IPJPye_wkLTpKYq1KW-8f8=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><em>skaskela@kaskelalaw.com<\/em><\/strong><\/a> or online at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=IRI80FBr22HplpM_Hwhf-BuN8YBcg7ulVccll7NcWtxdE4JNis6B2txBsUbXxG14mH02mqdhwCAh9GxQzT7bk3_7cfPNSVWHMNHifn-V_lN3ushdnczNniDpeuBqj5l6bnFpjFyyyQmOYWcpcS1Qnw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><em>https:\/\/kaskelalaw.com\/case\/xl-fleet-corp\/<\/em><\/strong><\/a>, for additional information about this action and their legal rights and options.<\/p>\n<p>Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger &amp; acquisition litigation. For additional information about Kaskela Law LLC please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MvNkZgZuNetbNckK9ywRjz0Z_3FQV3jyDHp7H9VNcNzoUv5-pefrjBBd-t7dxvri3272uc9vIw-yBy_0HJOnBi_uXIwZVSjgY2quEW2o7Mg=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.kaskelalaw.com<\/a><\/p>\n<p>\n        <strong>CONTACT:<\/strong><br \/>\n        <br \/>D. Seamus Kaskela, Esq.<br \/><strong>KASKELA LAW LLC<\/strong><br \/>18 Campus Boulevard, Suite 100<br \/>Newtown Square, PA 19073<br \/>(484) 258 \u2013 1585<br \/>(888) 715 \u2013 1740<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MvNkZgZuNetbNckK9ywRjwAH5zW1jEek_m0pTFLn9gVm-Ih1JV7_H15WGnyx8SJgpX2aGQPTN-TmNJXQmPi1Jl6R_tTWgq0xsiaxIyNDVuI=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.kaskelalaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=WyfSKRVQdt1k69NZD1U7FvTxYiN1TMwSsxiREmwp4Jul8KJ1cI5R5MjOnqIwalN41J9Ia6Z-Gcb9GwyUWNAE8_0wjbpEf1w6fLEoIy7Hwys=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">skaskela@kaskelalaw.com<\/a><\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMTg1NiM0MTA2ODg1IzIwOTk5MzU=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/cabe9ddc-9b85-4cdb-a524-7615c734c4cc\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PHILADELPHIA, April 06, 2021 (GLOBE NEWSWIRE) &#8212; Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against XL Fleet Corp. (\u201cXL Fleet\u201d or the \u201cCompany\u201d) (NYSE: XL), formerly known as Pivotal Investment Corp. II (\u201cPivotal\u201d) (NYSE: PIC), on behalf of investors who purchased or acquired XL or PIC securities between October 2, 2020 and March 2, 2021 (the \u201cClass Period\u201d). On September 18, 2020, Pivotal, a publicly traded Special Purpose Acquisition Company, announced that it had entered into a definitive agreement to merge with XL. According to the complaint, in connection with the proposed transaction, Pivotal filed a defective Registration Statement with the SEC which contained numerous materially false and misleading statements about XL Fleet\u2019s business, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC)&#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-471649","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>Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC) - 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\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PHILADELPHIA, April 06, 2021 (GLOBE NEWSWIRE) &#8212; Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against XL Fleet Corp. (\u201cXL Fleet\u201d or the \u201cCompany\u201d) (NYSE: XL), formerly known as Pivotal Investment Corp. II (\u201cPivotal\u201d) (NYSE: PIC), on behalf of investors who purchased or acquired XL or PIC securities between October 2, 2020 and March 2, 2021 (the \u201cClass Period\u201d). On September 18, 2020, Pivotal, a publicly traded Special Purpose Acquisition Company, announced that it had entered into a definitive agreement to merge with XL. According to the complaint, in connection with the proposed transaction, Pivotal filed a defective Registration Statement with the SEC which contained numerous materially false and misleading statements about XL Fleet\u2019s business, &hellip; Continue reading &quot;Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC)&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-06T12:33:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMTg1NiM0MTA2ODg1IzIwOTk5MzU=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC)\",\"datePublished\":\"2021-04-06T12:33:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\\\/\"},\"wordCount\":362,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIxMTg1NiM0MTA2ODg1IzIwOTk5MzU=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\\\/\",\"name\":\"Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC) - 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(\u201cXL Fleet\u201d or the \u201cCompany\u201d) (NYSE: XL), formerly known as Pivotal Investment Corp. II (\u201cPivotal\u201d) (NYSE: PIC), on behalf of investors who purchased or acquired XL or PIC securities between October 2, 2020 and March 2, 2021 (the \u201cClass Period\u201d). On September 18, 2020, Pivotal, a publicly traded Special Purpose Acquisition Company, announced that it had entered into a definitive agreement to merge with XL. According to the complaint, in connection with the proposed transaction, Pivotal filed a defective Registration Statement with the SEC which contained numerous materially false and misleading statements about XL Fleet\u2019s business, &hellip; Continue reading \"Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-06T12:33:29+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMTg1NiM0MTA2ODg1IzIwOTk5MzU=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC)","datePublished":"2021-04-06T12:33:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/"},"wordCount":362,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMTg1NiM0MTA2ODg1IzIwOTk5MzU=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/kaskela-law-llc-announces-the-filing-of-a-shareholder-class-action-lawsuit-against-xl-fleet-corp-and-encourages-investors-to-contact-the-firm-xl-pic\/","name":"Kaskela Law LLC Announces the Filing of a Shareholder Class Action Lawsuit Against XL Fleet Corp. and Encourages Investors to Contact the Firm (XL, PIC) - 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