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XPEL.US
id: 1023
XPEL (XPEL) Market Growth And Revenue Issues Case
W.D. Texas
Court5:24-cv-00873
Case number08 Nov 2023
Class period Start02 May 2024
Class period End07 Oct 2024
Lead Plaintiff motion deadline- $XPEL stockholders filed a claim against XPEL for misleading them about market growth and revenue potential.
- After the financial results on May 2, 2024, $XPEL fell by 39%.
- XPEL investors can join this case to be notified about potential recovery.
Case Details:
On October 19, 2023, Culper Research published a report stating that XPEL had grossly understated its reliance on Tesla that represents 25-35% of XPEL’s revenue.
Further, the report stated that XPEL is concealing a massive undisclosed risk from its primary supplier which may threaten XPEL’s entire business.
On this news, $XPEL fell 17.3% and lost over $292 million of its market capitalization, seriously damaging shareholders.
Then, on May 2, 2024, XPEL reported 5% revenue growth, missing expectations, and admitted to losing customers in the aftermarket channel.
After that, $XPEL dropped 39% on the same day.
Considering all the information, investors might have grounds to suspect that XPEL misled them about market growth and revenue potential.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
19 October 2023
Filing date
08 August 2024
Lead Plaintiff Deadline
07 October 2024