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CLASS ACTION UPDATE for PEN, PLUG and XL: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

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·4 min read
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NEW YORK, NY / ACCESSWIRE / March 16, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

PEN Shareholders Click Here: https://www.zlk.com/pslra-1/penumbra-inc-information-request-form?prid=13728&wire=1
PLUG Shareholders Click Here: https://www.zlk.com/pslra-1/plug-power-inc-loss-submission-form?prid=13728&wire=1
XL Shareholders Click Here: https://www.zlk.com/pslra-1/xl-fleet-corp-loss-submission-form?prid=13728&wire=1

* ADDITIONAL INFORMATION BELOW *

Penumbra, Inc. (NYSE:PEN)

PEN Lawsuit on behalf of: investors who purchased August 3, 2020 - December 15, 2020
Lead Plaintiff Deadline : March 16, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/penumbra-inc-information-request-form?prid=13728&wire=1

According to the filed complaint, during the class period, Penumbra, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) that the Jet 7 Xtra Flex had known design defects that made it unsafe for its normal use; (2) that Penumbra did not adequately address the risk of the Jet 7 Xtra Flex causing serious injury and deaths, which had in fact already occurred; (3) that the Jet 7 Xtra Flex was likely to be recalled due to its safety issues; and (4) as a result, Penumbra's public statements as set forth above were materially false and misleading at all relevant times.

Plug Power Inc. (NASDAQ:PLUG)

PLUG Lawsuit on behalf of: investors who purchased November 9, 2020 - March 1, 2021
Lead Plaintiff Deadline : May 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/plug-power-inc-loss-submission-form?prid=13728&wire=1

According to the filed complaint, during the class period, Plug Power Inc. made materially false and/or misleading statements and/or failed to disclose that: (1 the Company would be unable to timely file its 2020 annual report due to delays related to the review of classification of certain costs and the recoverability of the right to use assets with certain leases; (2) the Company was reasonably likely to report material weaknesses in its internal control over financial reporting; and (3) 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.

XL Fleet Corp. (NYSE:XL)

XL Lawsuit on behalf of: investors who purchased October 2, 2020 - March 2, 2021
Lead Plaintiff Deadline : May 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/xl-fleet-corp-loss-submission-form?prid=13728&wire=1

According to the filed complaint, during the class period, XL Fleet Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) XL Fleet's salespeople were pressured to inflate their sales pipelines to boost the Company's reported sales and backlog; (2) at least 18 of the 33 customers that XL featured were inactive and had not placed an order since 2019; (3) XL's technology had been materially overstated and offered only 5% to 10% of fleet savings; (4) XL lacks the supply chain and engineers to roll out new products on the announced timelines; and (5) 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.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/635887/CLASS-ACTION-UPDATE-for-PEN-PLUG-and-XL-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders