This week, we cover the fraud accusations against brokerage firm XP Inc. The military deal signed by Jair Bolsonaro and Trump. And how Covid-19 will hold back Brazilian IPOs.
Accused of foul play, XP Inc. faces class action
Stocks of brokerage firm XP Inc. on Nasdaq dipped 13 percent following the publication of a report by The Winkler Group, an investment consultancy. It announces its short-selling position on XP due to “accounting irregularities, inadequate financial disclosures, and discrepancies between the company’s IPO prospectus and internal audits.”
Why it matters. This could be the start of a very expensive legal battle...