BOSTON, April 17, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that multiple class action lawsuits have been filed against XP, Inc. (“XP”) (NASDAQ: XP) and certain of its officers for securities fraud. The lead plaintiff deadline is May 20, 2020. Investors who purchased XP shares should contact Block & Leviton for a free case evaluation.
XP is one of the largest brokerage firms in Brazil. On December 13, 2019, it went public in the United States, launching a $1.96 billion initial public offering (“IPO”). The lawsuits, filed in the U.S. District Court for the Eastern District of New York, allege that less than three months later, investment firm The Winkler Group published a short report raising serious questions about the accuracy of XP’s financials. This report charged that there were significant discrepancies between XP’s internal audits and the financial statements that XP provided investors in the materials accompanying the IPO. The report further asserts that XP fired its auditor after it discovered material weaknesses in XP’s internal controls. As a result, the stock price fell well below the IPO price.
If you purchased or acquired shares of XP common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, or via email at cases@blockesq.com, or at https://shareholder.law/xp. XP investors may, no later than May 20, 2020, seek to be appointed as a lead plaintiff representative of the Class.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com
