The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased XP Inc. (NASDAQ: XP) securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with XP’s December 2019 initial public offering.
According to the XP lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) XP engaged in undisclosed related party transactions; (2) XP failed to disclose its common and large system failures and connected losses; (3) XP’s aggressive IFA strategy was and is tenuous; (4) XP had material weaknesses; (5) XP fired its previous accounting firm due to that firm finding and disclosing material weaknesses; and (6) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
If you suffered a loss in XP you have until May 20, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.