An investigation for investors in DLocal Limited (NASDAQ:DLO) shares over potential securities laws violations by DLocal Limited was announced.
San Diego, CA -- (SBWIRE) -- 12/06/2022 -- An investigation was announced for investors of DLocal Limited (NASDAQ: DLO) shares over potential securities laws violations by 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 focuses on whether a series of statements by DLocal Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Uruquay based DLocal Limited operates a payments platform in the United States, Europe, China, and internationally. DLocal Limited reported that its annual Total Revenue rose from $104.14 million in 2020 to $244.12 million in 2021, and that its Net Income increased from $28.18 million in 2020 to $77.87 million in 2021.
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.
Those who purchased shares of DLocal Limited (NASDAQ: DLO) have certain options and should contact the Shareholders Foundation.
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