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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

XP, Inc. Investigated for Securities Fraud by Block & Leviton, Investors Who Lost Money Should Contact the Firm

March 6, 2020 GMT

BOSTON, March 06, 2020 (GLOBE NEWSWIRE) -- National securities litigation firm Block & Leviton ( www.blockesq.com) is investigating whether XP, Inc. (NASDAQ: XP) and certain of its officers may have misled investors. Investors who have lost money are encouraged to contact us for a free case evaluation.

XP, one of Brazil’s largest brokerage firms, went public on December 13, 2019 in a $1.96 billion public offering. On March 6, 2020, less than three months later, investment firm The Winkler Group published a short report raising serious questions about the accuracy of XP’s financials. Among other things, the report charges that there are significant discrepancies between XP’s internal audits and the financial statements the company provided investors in its IPO prospectus. In addition, the report alleges that XP fired its auditor after it discovered material weaknesses in the company’s internal controls.

“Investors have a right to rely upon accurate offering documents when deciding whether to invest in a new company. These allegations are very troubling.” said Mark Delaney, the Block & Leviton attorney leading the investigation.

If you have purchased or acquired XP securities, and have questions about your legal rights, or possess information relevant to this matter, you are encouraged to contact attorney Mark Delaney directly at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/xp.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors and individual investors in securities litigation throughout the United States. Its lawyers have recovered billions of dollars for its clients.

This notice may constitute attorney advertising.


BLOCK & LEVITON LLP Mark Delaney (617) 398-5600 phone 260 Franklin Street, Suite 1860 Boston, MA 02110 mark@blockesq.com

SOURCE Block & Leviton LLP