KSPI DEADLINE ALERT: Joint Stock Company Kaspi.kz Investors Are Encouraged to Contact Kaplan Fox Before Lead Plaintiff Deadline on February 18, 2025
NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Joint Stock Company Kaspi.kz ('Kaspi' or the 'Company') (NASDAQ: KSPI) on behalf of investors that purchased or otherwise acquired Kaspi securities between January 19, 2024 and September 19, 2024 (the 'Class Period').
If you are an investor in Kaspi and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than February 18, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process.
On September 19, 2024, Culper Research published a report entitled, 'Kaspi.kz (KSPI): The NASDAQ-Listed Fintech Moving Money for Criminals and Kleptocrats' (the ' Culper Report'). The Culper Report alleges that the Company 'has systematically misled U.S. investors and regulators in its repeated claims – especially ahead of the company's January 2024 NASDAQ listing – that the company has zero exposure to Russia.' The Culper Report further alleges that its research found the 'Company's vast, longstanding ties to bad actors including sanctioned oligarchs and Russian mobsters.'
Following this news, Kaspi stock price fell $19.20 per share, over 16%, to close at $99.81 per share on September 19, 2024.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (i) Kaspi continued doing business with Russian entities, and also providing services to Russian citizens, after Russia's 2022 invasion of Ukraine, thereby exposing the Company to the undisclosed risk of sanctions; (ii) the Company engaged in undisclosed related party transactions; and (iii) certain of the Company's executives have links to reputed criminals.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Pamela A. Mayer
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
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