An investigation on behalf of investors in DLocal Limited (NASDAQ:DLO) shares over potential wrongdoing at DLocal Limited was announced and NASDAQ:DLO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/01/2023 -- An investigation on behalf of investors in shares of DLocal Limited (NASDAQ: DLO) was announced over potential breaches of fiduciary duties by certain officers and directors at DLocal Limited.
Investors who purchased shares of DLocal Limited (NASDAQ: DLO) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain DLocal Limited directors breached their fiduciary duties and caused damage to the company and its shareholders.
Uruquay based DLocal Limited operates a payments platform in the United States, Europe, China, and internationally. 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.
Shares of DLocal Limited (NASDAQ: DLO) declined from over $37 per share in late 2021 to as low as $9.03 on November 17, 2022.
On December 1, 2022, Muddy Waters published a second 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."
Those who purchased shares of DLocal Limited (NASDAQ: DLO) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.