XP Alert: Johnson Fistel Launches Investigation into XP, Inc.; Investors Suffering Losses Encouraged to Contact Firm
SAN DIEGO, March 13, 2020 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against XP, Inc. ("XP" or the "Company") (NASDAQ: XP) for violations of federal securities laws.
On or about December 13, 2020, XP sold about 72.51 million shares of stock in its initial public stock offering (the "IPO"), at $27.00 a share raising nearly $2.0 billion in new capital. However, since the IPO, XP stock has plunged, on March 13, 2020, the stock closed at $22.39.
On March 6, 2020, The Winkler Group published a report raising numerous questions about the accuracy of XP's financials. The report raises questions regarding XP's asset values, revenue recognition, and tax deductions, and documents a pattern of regulatory noncompliance and questionable executive judgment.
Following this news, XP's stock price fell 13.34%, on March 6, 2020.
Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its December 2019 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.
If you have information that could assist in this investigation, or if you are an XP shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
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SOURCE Johnson Fistel, LLP
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