The Gross Law Firm Announces Class Actions on Behalf of Shareholders of UAVS, EBIX and XL
NEW YORK, NY / ACCESSWIRE / March 20, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
AgEagle Aerial Systems, Inc. (NYSE:UAVS)
Investors Affected : September 3, 2019 – February 18, 2021
A class action has commenced on behalf of certain shareholders in AgEagle Aerial Systems, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) AgEagle did not have a partnership with Amazon and in fact never had any relationship with Amazon; (2) rather than correct the public’s understanding about a partnership with Amazon, Defendants were actively contributing to the rumor that AgEagle had a partnership with Amazon; and (3) as a result, Defendants’ statements about AgEagle’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/ageagle-aerial-systems-inc-loss-submission-form/?id=13892&from=1
Ebix, Inc. (NASDAQ:EBIX)
Investors Affected : November 9, 2020 – February 19, 2021
A class action has commenced on behalf of certain shareholders in Ebix, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) there was insufficient audit evidence to determine the business purpose of certain significant unusual transactions in Ebix’s gift card business in India during the fourth quarter of 2020; (2) there was a material weakness in Company’s internal controls over the gift or prepaid revenue transaction cycle; and (3) the Company’s independent auditor was reasonably likely to resign over disagreements with Ebix regarding $30 million that had been transferred into a commingled trust account of Ebix’s outside legal counsel; and (4) 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.
Shareholders may find more information at https://securitiesclasslaw.com/securities/ebix-inc-loss-submission-form/?id=13892&from=1
XL Fleet Corp. (NYSE:XL)
Investors Affected : October 2, 2020 – March 2, 2021
A class action has commenced on behalf of certain shareholders in XL Fleet Corp. 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.
Shareholders may find more information at https://securitiesclasslaw.com/securities/xl-fleet-corp-loss-submission-form/?id=13892&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
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