The Oil & Gas Journal, first published in 1902, is the world's most widely read petroleum industry publication. OGJ delivers international oil and gas industry news; analysis of issues and events; practical technology for design, operation, and maintenance of oil and gas operations; and important statistics on energy markets and industry activity.

OGJ is edited to meet the needs of engineers, geoscientists, managers, and executives throughout the oil and gas industry. It is part of Endeavor Business Media, Nashville, Tenn., which also publishes Offshore Magazine.

Endeavor Business Media’s Petroleum Group also produces targeted e-Newsletters; hosts global conferences and exhibitions, seminars, and forums; and publishes directories, technical books, print and electronic databases, surveys, and maps.

Additional Information

Website & Technical Help

For help with subscription purchases or refunds, or trouble logging into the paid subscription content on www.ogj.com, please contact Customer Service at [email protected] or call 1-847-559-7598.

For more customer service information, please click here.

XPEL INVESTOR REMINDER: Faruqi & Faruqi Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In XPEL To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in XPEL and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/XPEL.

There is no cost or obligation to you.

image1.png

NEW YORK, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against XPEL, Inc. (“XPEL” or the “Company”) (NASDAQ: XPEL).

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.

XPEL sells, distributes, and installs after-market automotive products. The company offers automotive surface and paint protection, headlight protection, and automotive and architectural window films, as well as proprietary software.

On October 19, 2023, Culper Research issued a report alleging that XPEL "grossly understated its reliance on Tesla." In the prior week, Tesla stated that it would be eliminating XPEL from its supply chain. In response, XPEL stated that Tesla represented only 5% of its revenues. However, Culper Research estimated that Tesla actually represents 25% to 35% of XPEL's paint protection films ("PPF") business.

Further, Culper Research stated XPEL "is concealing a massive undisclosed risk from its primary supplier which threatens to upend the [XPEL]'s entire reason for being." Specifically, Culper Research claimed that XPEL's long-time supplier, entrotech, inc., formed a joint venture with PPG, which has integrated protection technology directly into OEM paint.

As support for its contentions, Culper Research reported that "XPEL has historically disclosed its substantial reliance on entrotech in its filings, yet conspicuously removed all mentions of entrotech in its most recent Form 10-K and 10-Qs."

Following this news, XPEL's share price fell by more than 17%, to close at $50.65, on October 19, 2023, on very heavy volume.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/44587520-9890-4c8f-883b-3ced51a5f362


Primary Logo

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.