DLocal Limited (NASDAQ: DLO) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired DLocal Limited (“DLocal”) (NASDAQ: DLO) (1) Class A common stock pursuant and/or traceable to the final amended registration statement and prospectus (collectively, the “IPO Registration Statement”) issued in connection with the initial public offering (“IPO”) conducted on or about June 2, 2021; and/or (2) securities between June 2, 2021 and June 5, 2023, inclusive (the “Class Period”).

DLocal operates a payment processing platform for merchants worldwide. Part of its operations includes engaging in foreign exchange transactions, which result in the company being subject to various foreign exchange regulations and controls in the countries in which it operates, including Argentina.

The complaint alleges that, in the IPO Registration Statement and throughout the Class Period, Defendants made materially false and misleading statements regarding the company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) DLocal engaged in certain improper conduct and transfers abroad in violation of Argentine laws and/or regulations, including, inter alia, foreign exchange regulations; (2) accordingly, DLocal’s compliance controls and procedures, including its disclosure controls and procedures and internal controls over financial reporting, were deficient; (3) all the foregoing subjected the company to a heightened risk of governmental and/or regulatory scrutiny in Argentina and/or enforcement action by Argentine authorities; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.

Current Status of Case:
On November 8, 2024, Defendants filed a Motion to Dismiss the Amended Complaint. The Motion has been fully briefed and is pending decision before the Court. This action is ongoing.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.