DLocal Investor Alert
01/05/2023, Vancouver Canada · V6E 4A6 // KISS PR Brand Story PressWire //
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In DLocal To Contact Him Directly To Discuss Their Options
New York, New York--(Newsfile Corp. - January 5, 2023) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against DLocal Limited (“DLocal” or the “Company”) (NASDAQ: DLO).
If you suffered losses exceeding $50,000 investing in DLocal stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/DLO.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On November 16, 2022, Muddy Waters Capital LLC (“Muddy Waters”) published a research report concluding that DLocal “is likely a fraud.” Muddy Waters alleges that DLocal has repeated disclosures about its Total Processing Volume and accounts receivable “that flatly contradict one another” and that there is “a contradictory discrepancy between two key subsidiaries’ accounts payable and accounts receivable.” Muddy Waters also alleges that DLocal engaged in multiple misrepresentations to disguise the timing and the source of funding for an insider option exercise.
On this news, DLocal’s share price fell $10.76, or more than 50%, to close at $10.46 per share on November 16, 2022, thereby injuring investors.
Then, on December 1, 2022, Muddy Waters published another report stating that DLocal has held calls with clients from several banks, stressing that it had separated client funds from its own. The report also said that DLocal’s calls with clients were “non-specific” and “sweet-talking,” and that “all [the Company] needed to do to address this issue was provide an explanation as to how the cash flows reconcile.”
On this news, DLocal’s share price fell $2.21, or 15.1%, to close at $12.39 per share on December 1, 2022.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/150438
Source: Newsfile Corp.
Release ID: 486142
Original Source of the original story >> DLocal Investor Alert
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