Cases / Investigations

XL Fleet Corp.


Wolf Popper LLP Reminds XL Fleet Corp. Investors of May 7, 2021 Lead Plaintiff Filing Deadline

NEW YORK, March 23, 2021

Wolf Popper LLP announces that federal securities class action lawsuits have been filed in the U.S. District Court for the Southern District of New York against XL Fleet Corp. (NYSE: XL) and certain of its officers on behalf of investors who purchased or otherwise acquired XL securities between October 2, 2020 and March 2, 2021.

The deadline for XL investors to seek appointment as the lead plaintiff is May 7, 2021. 

During the trading day on March 3, 2021, Muddy Waters issued a report alleging, among other things, that former XL salespeople “were pressured to inflate their sales pipelines materially in order to mislead XL’s board and investors,”  “XL misleads its customers about performance and savings; and, that due to these exaggerations, customer reorder rates are in reality quite low,” and “roughly half of the customers XL touts in its investor presentation are inactive.”

On this news, XL’s common stock price fell $2.09 per share, or over 13%, and closed at $13.86 per share on March 3, 2021.

The complaints allege, among other things, that the defendants made false and misleading statements or failed to disclose the material facts stated in the Muddy Waters report. 

Investors who have lost over $50,000 trading in XL securities and who would like to discuss the lawsuit should contact Joshua Ruthizer at (212) 451-9668, (877) 370-7703, or jruthizer@wolfpopper.com.

Wolf Popper has successfully recovered billions of dollars for defrauded investors.  Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation.  For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.

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Wolf Popper LLP
Joshua W. Ruthizer
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9668
Tel.: (877) 370-7703
Email: jruthizer@wolfpopper.com


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