Contact a Lawyer Now
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 21, 2020 to file lead plaintiff applications in a securities class action lawsuit against XP Inc. (NasdaqGS: XP), if they purchased the Company’s shares issued in connection with its December 2019 initial public stock offering (the “IPO”).
XP and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company had conducted undisclosed related-party transactions; (ii) the Company failed to disclose its common and large system failures and connected losses; (iii) the Company’s aggressive Independent Financial Agent strategy was and is questionable; (iv) the Company had material weaknesses; (v) the Company’s prior accounting firm was terminated because it had found and disclosed material weaknesses; and (vi) as a result of the foregoing, XP’s statements were materially false and misleading at all relevant times.
If you purchased shares of XP and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Acerno v. Benchimol, et al., No. 20-cv-01502.
Click here to read the first filed complaint.