Investigation announced for Investors in shares of XL Fleet Corp. (NYSE: XL) over potential Wrongdoing

Certain directors of XL Fleet Corp are under investigation over potential breaches of fiduciary duties.

Investors who are current long term investors in XL Fleet Corp. (NYSE: XL) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: XL stocks follows a lawsuit filed against XL Fleet Corp. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: XL stocks, concerns whether certain XL Fleet Corp. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the defendants failed to disclose to investors that XL Fleet’s salespeople were pressured to inflate their sales pipelines to boost the Company’s reported sales and backlog, that at least 18 of the 33 customers that XL featured were inactive and had not placed an order since 2019, that XL’s technology had been materially overstated and offered only 5% to 10% of fleet savings, that XL lacks the supply chain and engineers to roll out new products on the announced timelines, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of XL Fleet Corp. (NYSE: XL) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.