Investors urged to act as potential XPEL claims are investigated
Investors Encouraged to Seek Justice for Losses in XPEL
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson invites investors who experienced losses exceeding $100,000 in XPEL to reach out and explore their options.
If you have sustained losses of over $100,000 while investing in XPEL stock or its options and wish to discuss your legal rights, don’t hesitate to contact Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Important Reminder: There is a deadline approaching on October 7, 2024, for investors seeking to take on the role of lead plaintiff in a federal securities class action against XPEL, Inc. This investigation follows recent allegations concerning XPEL's statements regarding its operations and market reliance.
Details of the Investigation
Faruqi & Faruqi, LLP, a well-regarded national securities law firm, is currently looking into potential claims against XPEL, Inc. (NASDAQ: XPEL). The firm emphasizes the significance of taking action to safeguard investors’ interests.
According to claims, XPEL may have made false or misleading statements regarding its reliance on key suppliers and the competitive landscape that constrained its growth. Reports suggest that XPEL’s market share has faced significant pressure from rival companies.
The Allegations Against XPEL
One notable report issued by Culper Research highlighted that XPEL significantly understated its dependence on Tesla as a supplier. XPEL publicly claimed that Tesla constituted only 5% of its revenue; however, findings suggest this figure could actually range between 25% to 35% for its paint protection film business.
This discrepancy raises concerns about XPEL’s transparency with investors regarding its key partnerships. The investigation aims to scrutinize the manner in which XPEL communicated its financial health in light of these rumors.
Stock Market Response
After news broke regarding the potential misrepresentation of its reliance on suppliers, XPEL’s share price plummeted by $10.57, a staggering drop of more than 17%, closing at $50.65. Further, on May 2, 2024, XPEL announced disappointing first-quarter results, revealing a miss on profit estimates and an adjustment in its annual revenue projections, which contributed to a stock price decline of $20.93 or roughly 39%.
Options for Investors
The lead plaintiff is typically the investor with the greatest financial stake in the class action, and who also meets specific legal requirements. It’s crucial for any investors who fall into this category to consider mobilizing for a stronger collective legal action.
Faruqi & Faruqi encourages individuals with pertinent information regarding XPEL’s practices, including whistleblowers and former employees, to come forward and assist in the investigative efforts.
How to Get Involved
To learn more about the XPEL class action, investors are invited to reach out directly to the firm or visit the official website for more details. Consulting with a legal professional can provide clarity on your rights and potential avenues for recourse.
Stay informed and connected with the latest updates on legal proceedings and investigation outcomes by participating in community discussions or by following news updates relating to Faruqi & Faruqi, LLP.
Frequently Asked Questions
What should I do if I invested in XPEL and incurred losses?
It's recommended to reach out to a securities litigation partner at Faruqi & Faruqi to discuss your current situation and explore your legal options.
What is the deadline for filing a claim against XPEL?
The deadline for investors to seek lead plaintiff status in the class action lawsuit is October 7, 2024.
How can I find out more about the XPEL investigation?
You can visit the official website of Faruqi & Faruqi or speak directly to their legal representatives for detailed information.
Can I participate in the class action if I didn’t lose more than $100,000?
Yes, you may still participate in the class action suit even if your losses were less, but the lead plaintiff generally must have significant losses.
What types of evidence can support my case against XPEL?
Documents related to your investment, communications from the company, and any records of your financial losses will be helpful.
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