![]() In this game you have to build a city from scratch, choosing a location, planning its development and making sure it has all the services and urban functions necessary to satisfy the needs of its population. Designed by Will Wright and originally launched back in 1989, it has become one of the most popular video games in history and one of Electronic Arts greatest hits, with versions for desktop, Android and iPhone, including the successful SimCity BuildIt.īecome the Le Corbusier of the 21st century. More about the firm and its successes is located at is definitely the business and construction simulation game par excellence. The firm represents investors, whistleblowers, workers and consumers in complex litigation. Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. For more information, call Reed Kathrein at 84 or email # ![]() Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. Whistleblowers: Persons with non-public information regarding XL Fleet should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. ![]() If you are an XL investor and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman. "We're focused on investors' losses and proving XL misled investors by exaggerating its order backlog," said Reed Kathrein, the Hagens Berman partner leading the investigation. In response, the price of XL shares sharply dropped in after-hours trading. Muddy Waters tweeted that during the earnings call, "Cannacord analyst asked about 90% sales drop QoQ in Q1, saying that doesn't square with chip shortage-related issues he's seen elsewhere." 12, 2020, blaming the dim outlook on chip shortages. Moreover, XL forecasted Q1 2021 revenues of just $1 million, or just over 90% lower than Q4 2020 and just 1% of the $75 million total FY 2021 the company previously forecasted on Nov. 31, 2021, XL announced its Q4 and FY 2020 financial results missing Q4 consensus revenue expectations by nearly 10%. 10, 2021, after XL issued a more detailed response, Muddy Waters released another report, observing that XL did not deny key allegations, including (1) its inflated pipeline, (2) overstated customer base, and (3) low customer reorder rates.įinally, on Mar. In response, the Company's share price declined $5.55, or 33% over three trading days. Also his company bought at a deep discount. ![]() 4, 2021, after XL issued a denial, Muddy Waters criticized XL's "placeholder response," tweeting, "We spoke to a fleet manager for one of the companies XL brags about in its response. 3, 2021, when analyst Muddy Waters published a report calling XL "More SPAC Trash." Based on interviews with former employees, Muddy Waters claimed that salespeople "were pressured to inflate their sales pipelines materially," and that "customer reorder rates are in reality quite low" due to "poor performance and regulatory issues." The report also alleged that "at least 18 of 33 customers XL featured were inactive." Muddy Waters also claimed that XL has "weak technology" and that "XL's announcement of future class 7-8 upfits seems highly promotional" because the task is "too technologically complex for XL engineers to deliver on the promised timeline." The complaint alleges that: (1) XL's sales pipelines was materially inflated (2) XL grossly overstated its customer base (3) XL's technology had been materially overstated and did not provide customers the represented cost savings and (4) that XL lacks the supply chain and engineers to roll out new products on the announced timelines.
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