Philadelphia, Pennsylvania--(Newsfile Corp. - February 8, 2023) - Grabar Law Office is investigating claims on behalf of shareholders of Spruce Power Holding Corporation SPRU f/k/a XL Fleet Corp. XL; f/k/a Pivotal Investment Corporation II PIC a special-purpose acquisition company (collectively the "Company").

A federal court has allowed a class action to proceed in which it is alleged that XL Fleet and certain of its officers made false statements in press releases, SEC filings, and media appearances about XL Fleet's revenues, sales pipeline and technology. The court found that the complaint alleges facts that, if true, constitute strong circumstantial evidence of conscious misbehavior or recklessness and facts sufficient to show that certain company executives "employed a scheme to defraud investors and engaged in a practice that operated as a fraud upon persons who purchased XL Fleet securities."

Spruce Power shareholders who have held Company stock since on or about September 18, 2020, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/spruce-power-shareholder-investigation/, contact us at jgrabar@grabarlaw.com, or call 267-507-6085.

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154128