Press release
Lawsuit filed for Investors who lost money with shares of XPEL, Inc. (NASDAQ: XPEL)
A lawsuit was filed on behalf of investors in XPEL, Inc. (NASDAQ: XPEL) shares over alleged securities laws violations.
Investors who purchased shares of XPEL, Inc. (NASDAQ: XPEL) have certain options and for certain investors are short and strict deadlines running. Deadline: October 7, 2024. NASDAQ: XPEL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
San Antonio, TX based XPEL, Inc. sells, distributes, and installs after-market automotive products. XPEL, Inc. reported that its annual Total Revenue rose from $$323.99 million in 2022 to $396.29 million in 2023, and that its Net Income increased from $41.38 million in 2022 to $52.8 million in 2023.
On May 2, 2024, XPEL, Inc. released its financial results for the first quarter. The Company missed analyst targets on revenue and reported net income significantly below the estimated range. Following this news, shares of XPEL fell by more than 35% in intraday trading on the same day.
Shares of XPEL, Inc. (NASDAQ: XPEL) declined from $85.96 per share on August 30, 2023, to as low as $30.75 per share on May 3, 2024.
The plaintiff claims that between November 8, 2023 and May 2, 2024, the Defendants failed to disclose that XPEL's competitors were siphoning an increasingly large segment of the market, that as a result, the Company's revenue growth became increasingly dependent upon existing customers and partners, that as a result, the Company's revenue growth for 2023 and 2024 dwindled, and that as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of XPEL, Inc. (NASDAQ: XPEL) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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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