The Complaint alleges Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (i) XPEL’s competitors were siphoning an increasingly large segment of the market; (ii) as a result, the Company’s revenue growth became increasingly dependent upon existing customers and partners; (iii) as a result, the Company’s revenue growth for 2023 and 2024 dwindled; and (iv) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.