LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz reminds investors of the upcoming October 7, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired XPEL, Inc. (“XPEL” or the “Company”) (NASDAQ: XPEL) securities between November 8, 2023 and May 2, 2024, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
On May 2, 2024, XPEL released its first quarter 2024 financial results, reporting only 5% revenue growth year-over-year, disclosing that the Company had been losing customers in the aftermarket channel.
On this news, XPEL’s stock price fell $20.93, or 38.9%, to close at $32.86 per share on May 2, 2024, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) XPEL’s competitors were siphoning an increasingly large segment of the market; (2) as a result, the Company’s revenue growth became increasingly dependent upon existing customers and partners; (3) as a result, the Company’s revenue growth for 2023 and 2024 dwindled; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased or otherwise acquired XPEL securities during the Class Period, you may move the Court no later than October 7, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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