NEW YORK, May 17, 2021 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating certain officers and directors of XL Fleet Corp. (NYSE: XL), ZoomVideo Communications, Inc. (NASDAQ: ZM), Capital One (NYSE: COF), and Alphabet Inc. (NASDAQ: GOOGL) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
XL Fleet Corporation (NYSE: XL)
Bragar Eagel & Squire is investigating certain officers and directors of XL Fleet Corp. following a class action complaint that was filed against XL Fleet on March 8, 2021.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that XL Fleet’s salespeople were pressured to inflate their sales pipelines to boost the Company’s reported sales and backlog; (2) that at least 18 of the 33 customers that XL featured were inactive and had not placed an order since 2019; (3) that XL’s technology had been materially overstated and offered only 5% to 10% of fleet savings; (4) that XL lacks the supply chain and engineers to roll out new products on the announced timelines; and (5) 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.
For more information on our investigation into Zoom go to:
https://bespc.com/cases/XL
Zoom Video Communications, Inc. (NASDAQ: ZM)
Bragar Eagel & Squire is investigating certain officers and directors of Zoom Video Communications, Inc. following a class action complaint that was filed against Zoom on April 7, 2020.
The Complaint alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Zoom had inadequate data privacy and security measures; (ii) contrary to Zoom’s assertions, the Company’s video communications service was not end-to-end encrypted; (iii) as a result of all the foregoing, users of Zoom’s communications services were at an increased risk of having their personal information accessed by unauthorized parties, including Facebook; (iv) usage of the Company’s video communications services was foreseeably likely to decline when the foregoing facts came to light; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
For more information on our investigation into Zoom go to:
https://bespc.com/cases/ZM
Capital One (NYSE: COF)
Bragar Eagel & Squire is investigating certain officers and directors of Capital One following a class action complaint that was filed against Capital One on October 2, 2019.
The complaint alleges that throughout the Class Period defendants made materially made false and/or misleading statements and/or failed to disclose that: (1) the Company did not maintain robust information security protections, and its protection did not shield personal information against security breaches; (2) such deficiencies heightened the Company’s exposure to a cyber-attack; and (3) as a result, Capital One’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on our investigation into Capital One go to:
https://bespc.com/cases/cof
Alphabet Inc. (NASDAQ: GOOGL)
Bragar Eagel & Squire is investigating certain officers and directors of Alphabet Inc. following a class action complaint that was filed against Alphabet on April 26, 2019.
The Complaint alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s data security and management integrity. Specifically, defendants learned of a three-year-long software glitch in the Google+ social media network that potentially exposed the private personal data of millions of Google+ users to third-parties, and led to the discovery of other systemic vulnerabilities that further compromised the data security of Google+ users. Defendants knew of these data-security issues in March of 2018, but for months, they continued to stress to investors the importance of data security and simply warned investors about risks related to data-security issues and concerns, while concealing that these risks had already been realized and that defendants had such poor security controls and record keeping that they could not determine the scope of the data breach, identify all of the affected users, detect other data-security bugs, or protect the private personal data of the tens of millions of Google+ users. The Wall Street Journal (“WSJ”) led the exposure of defendants’ scheme, triggering governmental investigations, Congressional hearings, the shutdown of the Google+ social media network, undermined confidence in the integrity of defendants’ data security and management, and damaged investors.
For more information on our investigation into Alphabet go to:
https://bespc.com/cases/GOOGL
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit
www.bespc.com
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Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com
