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Violation Tracker Individual Record

Company: Spruce Power Holding Corporation
Penalty: $11,000,000
Year: 2023
Date: September 28, 2023
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Securities and Exchange Commission announced settled charges against Denver-based Spruce Power Holding Corporation, the successor to XL Fleet Corp., for misleading investors about revenue projections that topped $1 billion within three years of going public. XL Fleet, which provided hybrid electric vehicle systems for commercial fleet vehicles, went public through a 2020 merger with a special purpose acquisition company (SPAC).
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.