San Diego, CA -- (SBWIRE) -- 10/21/2020 -- Certain directors of Vasta Platform Limited are under investigation over potential breaches of fiduciary duties.

Investors who purchased shares of Vasta Platform Limited (NASDAQ: VSTA) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Vasta Platform directors breached their fiduciary duties and caused damage to the company and its shareholders.

Brazil based Vasta Platform Limited, an education company, provides educational and digital solutions to private schools operating in the K-12 educational sector in Brazil. On or around July 30, 2020, Vasta Platform Limited conducted its initial public offering ("IPO"), selling 18,575,492 of its Class A common shares priced at $19.00 per share.

Then, on August 20, 2020, Vasta Platform Limited announcing its financial results for the second quarter and first half of 2020. Among other results, Vasta announced a second quarter net loss of 54.9 million reais and revenue of 120.23 million reais, representing a revenue decline of 12.9% from the year-ago quarter. Vasta also advised investors that adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA"), excluding non-recurring effects, was negative by 1.7 million reais in the second quarter, and that "[t]he different seasonality in revenue recognition seen in 2020 on account of a greater concentration of invoices at the start of the commercial cycle (4Q and 1Q) ended up having a negative impact on the basis of comparison against the same period last year." The Company further advised that negative EBITDA of 10.9 million reais in the second quarter was "due to the extraordinary effects seen in the period, such as the different seasonality of revenue together with the impact of Covid-19 on the operation, as well as the inventory adjustment and higher marketing expenses."

Those who purchased shares of Vasta Platform Limited (NASDAQ: VSTA) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
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.