Poulin I Willey I Anastopoulo Announces A Class Action Lawsuit Has Been Filed Against XPEL, INC. (XPEL)

A class action has been filed in the Western District of Texas on behalf of all persons who purchased or otherwise acquired the common stock of XPEL

CHARLESTON, SOUTH CAROLINA, UNITED STATES, August 16, 2024 /EINPresswire.com/ -- Poulin Willey Anastopoulo LLC announces that a class action has been filed in the United States District Court for the Western District of Texas on behalf of all persons and entities that purchased or otherwise acquired (or still own) the common stock of XPEL (“XPEL” or the “Company”) (NASDFAQ:XPEL) between November 8, 2023 and May 2, 2024, both dates inclusive (the “Class Period”). Plaintiff is pursuing claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”). XPEL supplies automotive paint protection film, automotive window film, ceramic coatings, architectural window film products, and related tools and equipment to support the installation of these products.

According to the Complaint, Case No. 5:24-cv-00873, throughout the Class Period, XPEL, misled the market to believe that it would increase its market share penetration by reaching an increasingly large segment of non-enthusiastic car customers, which would, in turn, grow its revenue by a substantial percentage in 2023 and 2024.In reality, XPEL knew that its competitors encroached on its market share, undermining its growth. The Complaint alleges 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.

The Complaint 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 that: (i) XPEL’s competitors were siphoning an increasingly large segment of the market; (ii) as a result, the Company’s revenue growth became increasingly dependent upon existing customers and partners; (iii) as a result, the Company’s revenue growth for 2023 and 2024 dwindled; and (iv) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

The Complaint further alleges that the truth emerged on May 2, 2024, when the Company announced its first quarter 2024 results, reporting only 5% revenue growth year-over-year --- well below analyst expectations. On this news, the Company’s stock price cratered falling $20.93 per share, or nearly 39%, to close on May 2. 2024, on unusually heavy trading.

Investors who purchased or otherwise acquired (or currently own) XPEL common stock should contact the Firm before October 7, 2024, the lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this securities class action, please contact Ahmad Jackson at 803-222-222 or via e-mail at ahmad.jackson@poulinwilley.com.

Any additional questions may be directed to Stuart J. Guber, Esq, at stuart.guber@poulinwilley.com, the Firm’s Director of Shareholder Services and Securities Litigation, with almost 35 years of experience representing public pension funds, Taft-Hartley union pension plans and health & welfare funds, and high net-worth investors and other individuals in securities class actions and opt-out litigation.

In addition, firm partner Roy Willey IV has served as counsel in class actions and multi district litigations across the country. He brings a creative, problem-solving based approach to handling cases for consumers, investors and others harmed through no fault of their own. As a result he has been repeatedly named among America’s Top 100 High Stakes Litigators, Best Lawyers, and Super Lawyers.

Poulin | Willey | Anastopoulo has offices in Florence, Charleston, Ladson, Columbia, Greenville, Lexington, Myrtle Beach, Rock Hill, and Hampton, South Carolina. Charlotte and Lumberton, North Carolina. Atlanta, Albany, Athens, Augusta, Columbus and Macon in Georgia. Visit: RespectResults.com to learn more.

Stuart Guber
Poulin | Willey | Anastopoulo
+1 803-222-2222
stuart.guber@poulinwilley.com