The Newsroom

Investigations  /  03.30.2020

Investigation of XP, Inc.

You Have Legal Options

XP, Inc. (XP) Accused of Misleading Shareholders  

According to the complaint for alleged violations of the Securities Act of 1933 pursuant to the company’s December 2019 initial public offering (“IPO”), XP, Inc. (XP) held its IPO on December 13, 2019, offering approximately 83 million shares at $27.00 per share for net proceeds of approximately $1,100 million. In its Registration Statement, XP continuously touted its technological prowess, advancement and position, stating in relevant part “[XP’s] technology is a significant competitive advantage for XP… that enables [it] to differentiate XP in the market.” Then, on March 6, 2020, The Winkler Group released a report stating that XP had misled investors and failed to disclose pertinent information in its Registration Statement, including: (i) undisclosed related party transactions; (ii) $100M in system failure expenses; (iii) great uncertainty with regard to its independent financial agents; and (iv) the full circumstances regarding its firing and replacing its accounting firm KPMG for PwC, as well as other undisclosed material weaknesses. On this news, XP’s share price fell $9.12, or almost 26%, to close at $26.64 per share on March 9, 2020.

  • If you would like more information about your rights and potential remedies please send us a message. 

  • Please Note: Neither the submission to nor the receipt of information by Robbins LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

How can we help you?

CONTACT US TODAY | 1 800 350 6003 or [email protected]

Tell us your concerns