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”).
The complaint alleges that, 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, Defendants’ public statements were materially false and/or misleading at all relevant times.
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 info@ktmc.com. 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.