San Diego, CA -- (SBWIRE) -- 12/07/2023 -- XPEL, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of XPEL, Inc. (NASDAQ: XPEL), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of XPEL, Inc. (NASDAQ: XPEL) concerning whether certain statements by XPEL, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Antonio, TX based XPEL, Inc. sells, distributes, and installs after-market automotive products. XPEL, Inc. reported that its annual Total Revenue rose from $259.26 million in 2021 to $323.99 million in 2022, and that its Net Income increased from $31.56 million in 2021 to $41.38 million in 2022.

On October 19, 2023, Culper Research released a report on XPEL. In this report, Culper stated that it was shorting XPEL stock because it believed "the Company has grossly understated its reliance on Tesla", and because it believed "the Company is concealing a massive undisclosed risk from its primary supplier which threatens to upend the Company's entire reason for being."

Shares of XPEL, Inc. (NASDAQ: XPEL) declined from $87.46 per share on July 11, 2023, to as low as $40.77 per share on November 08, 2023.

Those who purchased shares of XPEL, Inc. (NASDAQ: XPEL) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.