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Investigation announced for Investors in shares of XP Inc. (NASDAQ: XP) over possible Violations of Securities Laws

03-17-2020 06:18 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

An investigation for investors in XP Inc. (NASDAQ: XP) shares over potential securities laws violations by XP Inc. was announced.

An investigation for investors in XP Inc. (NASDAQ: XP) shares over potential securities laws violations by XP Inc. was announced.

An investigation was announced concerning potential securities laws violations by XP Inc. in connection with certain financial statements.

Investors who purchased shares of XP Inc. (NASDAQ: XP), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by XP Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Brazilian based XP Inc. operates technology-driven financial services platform that provides financial products and services in Brazil. XP Inc. conducted its initial public offering ("IPO") in December 2019 and sold over 72 million shares at $27.00 per share.

On March 6, 2020, less than three months after XP's IPO, a report was published raising questions regarding the accuracy of XP's financial statements after having discovered accounting irregularities, inadequate financial disclosures, and discrepancies between the company's IPO prospectus and internal audits. In addition, The report raises questions regarding XP's asset values, revenue recognition, and tax deductions, and documents a pattern of regulatory noncompliance and questionable executive judgement. Since the IPO shares of XP Inc. (NASDAQ: XP) declined to as low as $16.02 per share on March 12, 2020.

Those who purchased shares of XP Inc. (NASDAQ: XP) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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