NEW YORK, NY / ACCESSWIRE / September 23, 2024 / Pomerantz LLP announces that a class action lawsuit has been filed against XPEL, Inc. ("XPEL" or the "Company") (NASDAQ:XPEL). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether XPEL and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until October 7, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired XPEL securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On May 2, 2024, XPEL announced its financial results for the first quarter of 2024, reporting only 5% revenue growth year-over-year-well below analyst expectations. During a related earnings call hosted on the same day, XPEL's Chief Executive Officer Ryan Pape admitted that the Company had been losing customers in the aftermarket channel. On this news, XPEL's stock price fell $20.93 per share, or nearly 39%, to close at $32.86 per share on May 2, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP