San Diego, CA -- (SBWIRE) -- 03/31/2020 -- An investor in NASDAQ: XP shares filed a lawsuit over alleged violations of Federal Securities Laws by XP Inc. in connection with with XP's December 2019 initial public stock offering (the "IPO").

Investors who purchased shares of XP Inc. (NASDAQ: XP) have certain options and for certain investors are short and strict deadlines running. Deadline: May 20, 2020. NASDAQ: XP investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

XP Inc. conducted its initial public offering ("IPO") in December 2019 and sold over 72 million shares at $27.00 per share.

On March 6, 2020, less than three months after XP's IPO, a report was published raising questions regarding the accuracy of XP's financial statements after having discovered accounting irregularities, inadequate financial disclosures, and discrepancies between the company's IPO prospectus and internal audits. In addition, The report raises questions regarding XP's asset values, revenue recognition, and tax deductions, and documents a pattern of regulatory noncompliance and questionable executive judgement.

The plaintiff alleges on behalf of investors who purchased securities of XP Inc. (NASDAQ: XP) pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with XP's December 2019 initial public stock offering, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) XP engaged in undisclosed related party transactions; (2) XP failed to disclose its common and large system failures and connected losses; (3) XP's aggressive Independent Financial Agent strategy was and is tenuous; (4) XP had material weaknesses; (5) XP fired its previous accounting firm due that firm finding and disclosing material weaknesses; and (6) as a result, defendants' statements about XP's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Those who purchased shares of XP Inc. (NASDAQ: XP) 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 Shareholders Foundation, Inc.
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.