Important Legal Notice: Class Action Against Kaspi.kz Soon to Close for Lead Plaintiffs

Upcoming Class Action Against Kaspi.kz: Attention Investors

Robbins LLP issues a crucial reminder for investors regarding a pending class action involving Joint Stock Company Kaspi.kz (NASDAQ: KSPT). This action has been filed on behalf of all parties and entities that purchased or acquired KSPT securities between January 19, 2024, and September 19, 2024. Kaspi.kz is recognized for its substantial financial presence in Kazakhstan, particularly through its subsidiary, Kaspi Bank. The deadline for individuals interested in serving as lead plaintiffs is fast approaching, set for February 18, 2025.

What the Class Action Entails

The lawsuit arises from serious allegations suggesting that Kaspi.kz has misled investors about its business operations, especially concerning its interactions with Russian entities during and after Russia's invasion of Ukraine in 2022. According to court documents, the company allegedly obscured several critical facts:

1. It reportedly continued to engage with Russian firms and provided services to Russian citizens, which could expose it to the risk of international sanctions.
2. There are claims regarding undisclosed related party transactions that raise concerns about transparency.
3. Certain officers of Kaspi.kz may have ties to criminal organizations, further compounding the issue of corporate governance at the firm.

These revelations came to light following a report published by Culper Research titled "Kaspi.kz (KSPI) The NASDAQ-Listed Fintech Moving Money for Criminals and Kleptocrats". The report sparked a significant decline in the value of Kaspi.kz American Depository Shares (ADS), which plummeted by $19.82, or over 16%, on the day of the report's release, indicating the market's severe reaction to these allegations.

How to Get Involved

Investors who are interested in participating as lead plaintiffs must submit their applications to the court by February 18, 2025. Acting as a lead plaintiff means representing the interests of the wider group of investors and directing the legal proceedings. Potential participants are not required to contribute financially to the case, as Robbins LLP functions on a contingency fee basis, meaning clients pay no fees unless the case results in a recovery.

Those who choose not to apply can still be part of the class and remain eligible for any potential settlements without needing to take any action.

About Robbins LLP

Robbins LLP has established itself as a leader in shareholder rights litigation since 2002, focusing on assisting shareholders in recouping their losses and improving corporate governance. Investor education and protection are at the forefront of their mission, and they continuously work to hold corporations accountable for any misconduct.

If you wish to stay informed about the progress of the class action or receive alerts regarding wrongdoing by corporate executives, consider signing up for Stock Watch today. This way, you are kept in the loop about important developments in the case.

To contact Robbins LLP, please fill out the specified form, reach out to attorney Aaron Dumas, Jr. via email, or call the firm directly at (800) 350-6003.

Conclusion

With the February deadline approaching, investors should act quickly if they wish to participate in this significant legal effort against Kaspi.kz. The transparency and accountability of corporate governance practices are essential not only for affected investors but also for the integrity of the financial markets as a whole.