Ongoing Securities Fraud Class Action Against Kaspi.kz: Take Action Before February 2025

Joint Stock Company Kaspi.kz Securities Fraud Class Action

The law firm Levi & Korsinsky, LLP has announced a class action lawsuit concerning Joint Stock Company Kaspi.kz (NASDAQ: KSPI), targeting investors who may have suffered losses due to alleged securities fraud.

Background of the Case

The lawsuit applies to those investors who held shares of Kaspi.kz between January 19, 2024, and September 19, 2024. It accuses the company of making false statements and failing to disclose crucial information that could affect investor decisions. The nature of the complaint includes claims that the company continued operating with Russian entities and providing services to Russian citizens even after the 2022 invasion of Ukraine. This decision allegedly subjected the company to the risk of sanctions that were not disclosed to investors.

Moreover, it highlights undisclosed related party transactions and raises concerns regarding links between top executives at Kaspi.kz and reputed criminals. The implications are severe as previous assertions made by the defendants regarding the company’s business operations and future prospects were overstated or required a more grounded basis.

Who Can Participate?

If you believe you are one of the impacted investors, it is crucial to act swiftly. You have until February 18, 2025, to request the Court to appoint you as the lead plaintiff. Even if you do not serve in this capacity, you can still participate in any potential recovery resulting from the lawsuit. Importantly, there will be no out-of-pocket costs associated for class members, emphasizing that any compensation provided will be at no expense to the plaintiffs.

Why Choose Levi & Korsinsky?

Levi & Korsinsky has a commendable track record, having successfully secured hundreds of millions for shareholders over the past 20 years, specializing in complex securities litigations. With a dedicated team of over 70 professionals, they have consistently ranked as one of the leading securities litigation firms in the United States. They are recognized in ISS Securities Class Action Services' Top 50 Report, which acknowledges their excellence in high-stakes legal battles.

Next Steps

Should you wish to inquire further or explore legal options, you are encouraged to reach out to Levi & Korsinsky. You can get in touch with Joseph E. Levi, Esq. via email at [email protected], or by calling (212) 363-7500. Their office is located at 33 Whitehall Street, 17th Floor, New York, NY 10004.

Additional Information

For further insights regarding your rights as a potential class member or to learn more about the ongoing case, visit Levi & Korsinsky's dedicated webpage. Your proactive steps can significantly impact your situation regarding this crucial class action.

In summary, investors are advised to stay informed and reach out to legal experts to navigate this situation effectively. Time is of the essence, as the window for seeking justice and potential compensation is closing on February 18, 2025.