Spruce Power Settles Civil Enforcement Action Filed By The SEC Related To XL Fleet Merger
Portfolio Pulse from Benzinga Newsdesk
Spruce Power has settled a civil enforcement action filed by the SEC related to its merger with XL Fleet. The details of the settlement have not been disclosed.
September 29, 2023 | 7:13 am
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NEUTRAL IMPACT
Spruce Power's settlement of the SEC enforcement action related to the XL Fleet merger may impact investor confidence and potentially the company's stock price.
The settlement of the SEC enforcement action could have mixed effects on Spruce Power's stock. On one hand, it removes a legal uncertainty, which is positive. On the other hand, the fact that such an action was necessary could negatively impact investor confidence. The net effect on the stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100