(MENAFN- Newsfile Corp) DLocal Shareholder Action Reminder
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In DLocal To Contact Him Directly To Discuss Their Options
New York, New York--(Newsfile Corp. - January 24, 2023) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against DLocal Limited ('DLocal' or the 'Company') (NASDAQ: DLO).
If you suffered losses exceeding $50,000 investing in DLocal stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) . You may also click here for additional information: .
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. DLocal is the subject of a report published by Muddy Waters Research on November 16, 2022. The report, titled, 'DLO: 'History Never Repeats Itself, but it Does Often Rhyme,'' concludes that 'DLO is likely a fraud.' The report claims that the Company 'has repeated disclosures about its TPV and accounts receivable that flatly contradict one another. There is also a contradictory discrepancy between two key subsidiaries' accounts payable and accounts receivable. These types of seemingly innocuous misstatements are, instead, often signs of cooked books because it can become quite a strain to keep the numbers straight once you start manipulating them.' The report adds, 'Management and directors dumped an extraordinary ~$1 billion in shares within the first five months of DLO being public. A spate of recent high-level departures brings to mind the idiom about 'rats fleeing a sinking ship.''
Based on this report, shares of DLocal fell by more than 50% on unusually high volume.
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