Law Offices of Howard G. Smith announces an investigation on behalf XP Inc.(“XP” or the “Company”) (NASDAQ: XP) investors concerning the Company and its officers’ possible violations of federal securities laws.
In December 2019, XP completed its initial public offering (“IPO”), issuing more than 72 million Class A shares at $27.00 per share.
On March 6, 2020, The Winkler Grouppublished a report raising serious questions about the accuracy of XP’s financials. Among other claims, the report alleges that there are significant discrepancies between XP’s internal audits and the financial statements the company provided investors in its IPO prospectus. The report also alleges that "XP fired its auditor after the auditor found material weaknesses in its financial reporting[.]"
On this news, the Company’s share price fell $4.77, or over 13% , to close at $30.99 per share on March 6, 2020, thereby injuring investors.
If you purchased XP securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200306005556/en/
Copyright Business Wire 2020