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XL.US

XL Fleet Corp (XL) 19.5M Investor Settlement

S.D. New York
Court
1:21-cv-02002
Case number
18 Sept 2020
Class period Start
31 Mar 2021
Class period End
14 Jun 2024
Claim deadline
XL Fleet Corp (XL) agreed to settle 19.5 million with investors to end claims related to overstating its financial success in the SPAC deal.

Investors in Stock Options also may be intitled to payouts within this settlement.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.41
Filing date
08 March 2021
Lead Plaintiff Deadline
07 May 2021
Plaintiffs
Delton Rowe, Jeffrey Suh, Carl Enslin, Simone Heridis, Soraya Heridis
Attorneys
Glancy Prongay & Murray LLP (Los Angeles, CA), Law Offices of Howard G. Smith (Bensalem, PA)
Defendants
Jonathan J. Ledecky, James H.R. Brady, Kevin Griffin, Thomas J. Hynes III, Dimitri Kazarinoff, Brian Piern
Judge
Hon. Lorna G. Schofield
Administrator
A.B. Data Ltd
Settlement agreement date
2023-12-06
Trades matching type
FIFO
+$19,500,000
Total Settlement Amount
Created by Stan Vick, Scout

XL Fleet Corp

XL Fleet Corp. provides fleet electrification solutions for commercial vehicles in North America. Its products include hybrid electric drive systems are comprised of an electric motor that is mount...

    Ticker
    XL.US
    ISIN
    US9837FR1002
    CIK
    1772720
    Sector
    Consumer Discretionary
    Industry
    Auto Components
    Country
    USA
    Address
    145 Newton Street, Boston, MA, United States, 02135