Overview

A class action lawsuit has been filed against XPEL Technologies Corp. (“XPEL” or the “Company”) (NASDAQ: XPEL) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The XPEL class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired XPEL securities between November 8, 2023, and May 2, 2024, both dates inclusive (the “Class Period”).  Investors have until October 7, 2024, to seek appointment as lead plaintiff of the XPEL class action lawsuit.

XPEL supplies automotive paint protection film, automotive window film, ceramic coatings, architectural window film products, and related tools and equipment to support the installation of these products.

The XPEL class action lawsuit alleges that, during the Class Period, Defendants made misleading statements and omissions regarding the Company’s business, financial condition, and prospects.  Specifically, Defendants misled the market to believe that it would increase its market share penetration by reaching an increasingly large segment of non-enthusiast car customers, which would in turn grow its revenue by a substantial percentage in 2023 and 2024.

As the truth about XPEL’s business reached the market, the price of XPEL’s stock suffered significant declines, harming investors.  For example, on May 2, 2024, XPEL filed a Form 8-K with the U.S. Securities and Exchange Commission, only 5% revenue growth year-over-year well below analyst expectations.  During the associated earnings call, Defendants admitted that they had been losing customers in the aftermarket channel.  On this news, XPEL’s stock price fell $20.93, or nearly 39%, to close at $32.86 per share on May 2, 2024, on unusually heavy trading volume.

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If you purchased or otherwise acquired XPEL securities between November 8, 2023, and May 2, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the XPEL class action lawsuit is October 7, 2024.