XPEL Securities Class Action Lawsuit Investigation

At a glance

  • What is the XPEL Securities Class Action Lawsuit Investigation about?

    Gibbs Law Group is investigating potential claims on behalf of XPEL investors.
  • What did XPEL, Inc. do wrong?

    XPEL may have violated federal securities laws by providing false or misleading statements to investors.
  • What do you get out of this?

    This potential lawsuit seeks to help XPEL shareholders recover their losses.

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Why is XPEL stock dropping?

On Thursday, October 19, 2023, shares of protective film and coating company XPEL, Inc. (NASDAQ:XPEL) plummeted over 17% after Culper Research published a report alleging it had been concealing and misstating its vulnerabilities.

The report alleges that, despite XPEL claiming in a Form 8-K filing that Tesla represents only 5% or less of its revenue pertaining to paint protection film, interviews with XPEL installers reveal the true number is likely 25% to 35%. According to Culper Research, XPEL published the 5% figure in response to news reports on October 11, 2023 suggesting Tesla had begun offering its own pain protection films, effectively disintermediating XPEL.

Culper Research also claims that XPEL, which it asserts has “merely licensed” protective films and does not itself develop them, is concealing the news that its longtime primary supplier, entrotech, recently formed a joint venture with PPG that will soon render XPEL’s business “obsolete.” According to Culper Research, a representative from the joint venture claims they’ve found a way to integrate the paint protection technology directly into the paint. As a result, XPEL’s product, an “aftermarket wrap,” may have been “leapfrogged.”

Our Securities Lawyers Have a Winning Record Against Companies Like XPEL, Inc.

Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.

You “shouldn’t presume that powerful banks and other powerful interests can just get away with doing bad things. Good, qualified counsel that are committed to a cause can usually figure out how to prosecute such cases effectively and prevail.”

Eric Gibbs, award-winning securities attorney

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They “fought tooth and nail, down to the wire” to achieve “the best settlement that they could under the circumstances.”

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