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Finance Firm XP’s Investors Appeal Loss in Suit Over 2019 IPO

April 8, 2021, 4:38 PM

XP Inc. investors will try to convince the Second Circuit to give them another shot at a would-be class suit over the company’s 2019 initial public offering, they told a federal judge in New York.

Investors accused the Brazil-based financial services firm of not giving them all the facts on expenses, regulatory investigations, and anticompetitive conduct allegations ahead of the IPO. They didn’t allege an actionable misstatement or omission, the U.S. District Court for the Eastern District of New York ruled in March.

The investors want the U.S. Court of Appeals for the Second Circuit to take a look at...

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