XPEL Investors Urged to Join Class Action Ahead of Deadline
Urgent Reminder for XPEL Investors
XPEL, Inc. (NASDAQ: XPEL) investors are being reminded of a crucial deadline in a pending class action lawsuit. This case is gathering momentum as the lead plaintiff deadline approaches. Investors who have experienced significant financial losses are encouraged to take this opportunity seriously and consider their options moving forward.
Understanding the Class Action Lawsuit
The class action lawsuit aims to address alleged violations of federal securities laws by XPEL and certain executives. Reports suggest that misleading statements and omissions regarding the company’s market position may have significantly impacted the stock's performance. Investors who suffered losses exceeding $100,000 while trading XPEL stock or options between November 8, 2023, and May 2, 2024, are particularly urged to come forward.
Recent Developments Affecting XPEL
On October 19, 2023, a report from Culper Research raised concerns over XPEL’s financial dependency on Tesla. The report suggested that many investors were unaware of the company's substantial reliance on Tesla for its revenue. While XPEL minimized Tesla’s role by claiming it accounted for only 5% of revenue, Culper Research contested this and indicated that it could be as high as 35% in the PPF sector.
Market Reactions and Financial Implications
This revelation prompted a notable decline in XPEL’s stock price, which dropped by over 17%, closing at $50.65 following the report's release. Further pressure was placed on the stock when XPEL’s first-quarter 2024 financial results were announced on May 2, 2024. The company reported earnings that fell short of analyst expectations and reduced its annual revenue growth forecast, resulting in a staggering 38.91% drop in stock price, closing at $32.86.
Steps for Affected Investors
Investors who believe they are eligible to participate in the class action should consider reaching out to legal counsel. The process allows any member of the class to apply to serve as lead plaintiff, but it is essential to act quickly as the deadline is fast approaching. Any information about XPEL’s operations or practices that could substantiate claims is invaluable for the case.
Contact Information for Legal Assistance
Faruqi & Faruqi, LLP offers guidance to affected XPEL investors. Interested parties can contact partner Josh Wilson at either 877-247-4292 or 212-983-9330 (Ext. 1310). If you've suffered from significant losses, it is crucial to discuss your legal rights and options as soon as possible.
About Faruqi & Faruqi, LLP
Established in 1995, Faruqi & Faruqi, LLP is a respected national securities law firm based in several key states. They have a proven track record, successfully recovering hundreds of millions of dollars for distressed investors. Their ongoing commitment to transparency and legal advocacy is well recognized in the industry.
Frequently Asked Questions
What is the deadline for the XPEL class action lawsuit?
The lead plaintiff deadline is October 7, 2024, and investors should act quickly.
Who can participate in the class action?
Investors who lost more than $100,000 in XPEL stock during the specified period can participate.
What allegations are being made against XPEL?
XPEL is accused of making misleading statements regarding its reliance on revenue sources, particularly from Tesla.
How can investors contact Faruqi & Faruqi for assistance?
Investors can reach out to partner Josh Wilson at 877-247-4292 or 212-983-9330 (Ext. 1310).
What will happen if I choose not to be a lead plaintiff?
Your rights as a class member remain unaffected by your decision to serve or not serve as lead plaintiff.
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