The Globe and Mail reports in its Friday, Nov. 29, edition that Exro Technologies and several investment banks are facing a shareholder lawsuit alleging Exro overstated its prospects following a $332-million takeover of SEA Electric. The Globe's Jeffrey Jones writes that the proposed class action claims Exro misrepresented its revenue outlook, as the plaintiff asserts that Exro and SEA did not have a strong order book or binding orders at the time of the deal. The suit names Exro, its chief executive officer Sue Ozdemir and chairman Rodney Copes as defendants. It also names underwriters of about $55-million in financings this year: Canaccord Genuity, Eight Capital, National Bank Financial, ATB Securities, Stifel Nicolaus Canada, Roth Canada and AGP Canada Investments. The action, brought by retail investor Allan Crosier, seeks to bring together other investors who suffered losses or damages as a result of the alleged misrepresentations. The allegations have not been proven in court. In a statement, Exro disputed the allegations and said it intends to defend itself vigorously. Earlier this month, Exro reported it was tracking well below the sales projection it had set for 2024 after announcing the deal to acquire SEA.