NEW YORK — The Rosen Law Firm, renowned worldwide for advocating investor rights, is presently examining possible securities claims on behalf of shareholders of XP Inc. This inquiry has been prompted by alleged misleading business information provided by the company to its investors.
XP Inc., recognized as a Brazillian fintech entity on the Nasdaq, came under scrutiny when Grizzly Research, on March 12, 2024, published a damning report. The report claimed: “XP’s entire profits hinge on what insiders term a ‘Madoff-Like Ponzi Scheme.'” The revelations outlined XP’s alleged engagement in a large-scale Ponzi scheme, primarily through derivatives sales to retail clients. According to the report, these operations are misrepresented as proprietary trading profits.
The resulting impact from this disclosure was immediate and detrimental — XP’s stock value dropped by 5.4% on the day the report was released.
In the wake of these serious allegations, The Rosen Law Firm has announced preparations to possibly lead a class-action lawsuit in an attempt to recover losses faced by investors. Shareholders who purchased XP securities might qualify for compensation and can seek recovery without facing out-of-pocket fees or costs due to a contingency fee arrangement.
Potential participants in such class-action litigation are urged to contact the firm. Interested shareholders can touch base with Phillip Kim, Esq. by calling toll-free or via an email provided on the firm’s official contact channels, for further information about the class action.
Based in New York, The Rosen Law Firm is a reputable entity in securities class actions and shareholder derivative litigation, advocating for investors globally. The firm boasts a commendable track record, including the largest ever securities class action settlement against a Chinese company. According to ISS Securities Class Action Services, the firm topped the list for the number of securities class action settlements in 2017 and has consistently ranked in the top four each year since 2013.
Furthermore, in 2020, founding partner Laurence Rosen was distinguished by Law360 as a Titan of Plaintiffs’ Bar, reflecting the firm’s distinguished stance in securities litigation. The Rosen Law Firm’s capabilities are reinforced by multiple recognitions of its attorneys by distinguished legal entities such as Lawdragon and Super Lawyers.
This announcement serves as an informational piece regarding ongoing legal actions and should not be taken as legal advice. The Rosen Law Firm remains committed to high standards of professional conduct and invites affected parties to substantiate their claims under its guidance.
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