| COMPANY |
XPEL, Inc. |
| COURT |
United States District Court for the Western District of Texas |
| CASE NUMBER |
24-cv-06033 |
| JUDGE |
The Hon. Jason Kenneth Pulliam |
| CLASS PERIOD |
December 7, 2023 through July 24, 2024 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS OCTOBER 7, 2024.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
On May 2, 2024, XPEL announced its first quarter 2024 financial results, including revenue growth of only 5% year-over-year, which was well-below analyst expectations. XPEL’s CEO further admitted that XPEL was losing customers in the aftermarket channel, revealing that electric vehicle (“EV”) enthusiasts that became XPEL’s customers as a result of the “EV revolution” are “probably less likely to be our customer in the aftermarket” now that the EV market has cooled. On this news, the price of XPEL common stock declined $20.93 per share, or approximately 39%, from a close of $53.79 per share on May 1, 2024, to close at $32.86 per share on May 2, 2024.
The complaint alleges that, during 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 misrepresented and/or failed to disclose that: (1) XPEL’s competitors were siphoning an increasingly larger segment of the competitive market; (2) XPEL’s revenue growth became increasingly dependent upon its existing customers and partners; (3) the company’s revenue growth in 2023 and 2024 dwindled; and (4) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.