XPEL(US:XPEL) Prnewswireยท2024-08-21 14:45Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against XPEL, Inc. due to allegations of misleading statements and failure to disclose critical information that may have led to significant investor losses [2][4]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi is encouraging investors who suffered losses exceeding $100,000 in XPEL stock or options between November 8, 2023, and May 2, 2024, to discuss their legal rights [1]. - The firm reminds investors of the October 7, 2024, deadline to seek the role of lead plaintiff in a federal securities class action against XPEL [2]. - The complaint alleges that XPEL and its executives violated federal securities laws by making false statements and failing to disclose that competitors were capturing a larger market share, leading to dwindling revenue growth [4]. Group 2: Financial Performance and Market Impact - On May 2, 2024, XPEL reported GAAP earnings per share of $0.24, missing consensus estimates by $0.06, and revenue of $90.1 million, missing estimates by $3.99 million [6]. - XPEL revised its full-year 2024 revenue growth projection downward to 8-10% from 15%, which contributed to a significant drop in stock price [6]. - Following a report from Culper Research alleging that XPEL understated its reliance on Tesla, XPEL's stock price fell by $10.57 per share, or over 17%, closing at $50.65 on October 19, 2023 [5]. Group 3: Company Background and Whistleblower Information - Faruqi & Faruqi, LLP has recovered hundreds of millions of dollars for investors since its founding in 1995 and has offices in multiple states [3]. - The firm encourages anyone with information regarding XPEL's conduct, including whistleblowers and former employees, to contact them [8].