XPEL(US:XPEL) Prnewswireยท2024-08-22 09:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of XPEL Technologies Corp. regarding a class action lawsuit due to allegations of misleading statements and failure to disclose critical information affecting the company's market position and revenue growth [1]. Group 1: Allegations and Impact - The complaint alleges that during the class period from November 28, 2023, to May 2, 2024, XPEL's competitors were capturing a larger share of the market [1]. - As a result of increased competition, XPEL's revenue growth became increasingly reliant on existing customers and partners [1]. - Consequently, the company's revenue growth for 2023 and 2024 is expected to decline [1]. - The defendants' positive statements regarding XPEL's business and prospects were deemed materially misleading and lacked a reasonable basis [1]. Group 2: Class Action Details - Shareholders who purchased shares of XPEL during the specified class period are encouraged to contact the Gross Law Firm for potential lead plaintiff appointment [1]. - The deadline for shareholders to register for the class action is October 7, 2024, and there is no cost or obligation to participate [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [2]. Group 3: Firm's Mission - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].