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Lawsuits Filed Against PEN, BTBT and XL - Jakubowitz Law Pursues Shareholders Claims

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NEW YORK, NY / ACCESSWIRE / March 12, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

Penumbra, Inc. (NYSE:PEN)

CONTACT JAKUBOWITZ ABOUT PEN:
https://claimyourloss.com/securities/penumbra-inc-loss-submission-form/?id=13614&from=1

Class Period: August 3, 2020 - December 15, 2020

Lead Plaintiff Deadline: March 16, 2021

The filed complaint alleges that defendants 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.

Bit Digital, Inc. (NASDAQ:BTBT)

CONTACT JAKUBOWITZ ABOUT BTBT:
https://claimyourloss.com/securities/bit-digital-inc-loss-submission-form/?id=13614&from=1

Class Period: December 21, 2020 - January 8, 2021

Lead Plaintiff Deadline: March 22, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Bit Digital overstated the extent of its a bitcoin mining operation; and (2) 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)

CONTACT JAKUBOWITZ ABOUT XL:
https://claimyourloss.com/securities/xl-fleet-corp-loss-submission-form/?id=13614&from=1

Class Period: October 2, 2020 - March 2, 2021

Lead Plaintiff Deadline: May 7, 2021

The filed complaint alleges that defendants 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/635222/Lawsuits-Filed-Against-PEN-BTBT-and-XL--Jakubowitz-Law-Pursues-Shareholders-Claims