May 17, 2017 (Shareholders Foundation) - An investigation on behalf of investors of DXP Enterprises Inc (NASDAQ:DXPE) shares over potential securities laws violations by DXP Enterprises Inc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of DXP Enterprises Inc (NASDAQ:DXPE) concerning whether a series of statements by DXP Enterprises Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Houston, TX based DXP Enterprises, Inc. (DXP) is engaged in the business of distributing maintenance, repair and operating (MRO) products, equipment and service to industrial customers.

DXP Enterprises Inc reported that its annual Total Revenue declined from over $1.24 billion in 2015 to $962.09 million in 2016 and that its Net Loss of $38.63 million in 2015 turned to a Net Income of $7.7 million in 2016.

Shares of DXP Enterprises Inc (NASDAQ:DXPE) grew from $12.88 per share in May 2016 to as high as $39.94 per share in January 2017.

On May 11, 2017, DXP Enterprises Inc announced that it would be unable to timely file its Quarterly Report on Form 10-Q for the three months ended March 31, 2017, due to the resignation of DXP Enterprises Incs director of tax at the end of 2016, as well as the resignation of DXP Enterprises Incs manager of public reporting in March of 2017.

Shares of DXP Enterprises Inc (NASDAQ:DXPE) declined on May 12, 2017 to $32.59 per share.