#United States #New York #Rosen Law Firm #Kaspi.kz #Securities Investigation

Rosen Law Firm Investigates Kaspi.kz Amid Alarming Allegations

Introduction

The Rosen Law Firm, a recognized advocate for investor rights, has initiated an investigation concerning potential securities claims on behalf of shareholders of Kaspi.kz, a prominent financial technology company listed on NASDAQ under the ticker KSPI. This investigation arises from serious allegations that the company may have disseminated materially misleading information to investors, impacting the integrity of their investments.

Background of the Case

On September 19, 2024, research firm Culper Research released a critical report outlining significant concerns over Kaspi.kz's business practices. The report titled “Kaspi.kz (KSPI) The NASDAQ-Listed Fintech Moving Money for Criminals and Kleptocrats” accused Kaspi.kz of misleading U.S. investors, particularly regarding claims of having no exposure to the Russian market. Notably, the report suggested that previous assertions made by Kaspi.kz, aiming to represent the company as predominantly isolated from Russian influences, were deceptive and potentially damaging to investors who relied on that information.

Culper’s analysis posits that Kaspi.kz has been involved in extensive relationships with Russian partners across all segments of its operations. This connection raises substantial doubts about the accuracy of the company's public statements, particularly in light of its initial NASDAQ listings in January 2024, where it claimed no ties to Russian entities amidst the geopolitical fallout from Russia’s invasion of Ukraine in February 2022.

Market Reactions

Following the release of the allegations, there was a marked decline in the price of Kaspi.kz’s American Depositary Shares (ADS). On the day of the report's publication, the shares plummeted by 16.1%, with an additional 2.7% drop the following day, indicating a substantial loss of investor confidence. The rapid decrease in share value has alarmed current shareholders and generated further interest in Rosen Law Firm's investigation into potential recovery options for investors.

How to Join the Class Action

The Rosen Law Firm emphasizes that investors who purchased Kaspi.kz securities may qualify for compensation without any out-of-pocket expenses, thanks to a contingency fee structure. Investors are encouraged to visit the Rosen Law Firm's official website or to contact Phillip Kim, Esq. directly via toll-free number or email to gather more information regarding the ongoing class action investigation.

Why Choose Rosen Law Firm?

Rosen Law Firm is known for its extensive experience representing investors in securities class actions. They have established a strong record of success, including the largest securities class action settlement against a Chinese company at the time. Ranked consistently among the top firms for the number of securities class action settlements, Rosen Law Firm has recovered significant amounts for investors over the years, with over $438 million secured in 2019 alone.

The priority is to ensure that investors work with qualified counsel that offers robust resources and experience, particularly in light of options available for those affected by Kaspi.kz's situation. The firm encourages a prudent choice of legal representation to navigate the complex landscape surrounding securities fraud.

Conclusion

The ongoing investigation by Rosen Law Firm underlines the necessity for vigilance among investors regarding corporate disclosures and the implications of misleading financial information. As this situation progresses, affected shareholders should remain proactive in seeking legal guidance to understand their rights and potential recourse. For updates and more information on the status of the investigation, interested parties can follow Rosen Law Firm's social media channels or directly consult their website for further details.

Attorney Advertising. Past results do not guarantee similar outcomes.