Los Angeles, California--(Newsfile Corp. - May 14, 2020) - The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against XP Inc. (NASDAQ: XP) ("XP" or "the Company") for violations of the federal securities laws.
Investors who purchased the Company's securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with XP's December 2019 initial public stock offering (the "IPO"), are encouraged to contact the firm before May 20, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. XP engaged in related party transactions without disclosing them. The Company suffered from serious system failures which it also failed to disclose. The Company's aggressive Independent Financial Agent strategy was not a strong growth driver. After the Company's accounting firm documented and disclosed material weaknesses, XP fired the firm. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about XP, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
SOURCE:
The Schall Law Firm
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