#United States #New York #Levi & Korsinsky #Kaspi.kz #KSPI

Investors Encouraged to Participate in Class Action Against Kaspi.kz

In a recent announcement, Levi & Korsinsky, LLP has advised investors who lost money in the Joint Stock Company Kaspi.kz (NASDAQ: KSPI) to consider joining a class action lawsuit. The law firm seeks to represent those individuals adversely affected by alleged securities fraud during the specified period from January 19, 2024, to September 19, 2024.

Class Action Overview

The essence of this legal action centers around claims that the company engaged in deceptive practices that misled investors. Notably, the lawsuit outlines four primary grievances:

1. Continued Business with Russian Entities: It’s alleged that Kaspi.kz maintained business relations with Russian firms even after the 2022 invasion of Ukraine, exposing itself to potential sanction risks.
2. Undisclosed Related Party Transactions: The complaint also suggests that the company may have conducted transactions with related parties without appropriate disclosure, further raising concerns about financial transparency.
3. Executive Connections to Criminal Entities: Reports indicate some executives associated with Kaspi.kz have links to individuals with criminal backgrounds, complicating the company’s public image and credibility.
4. Misleading Statements: Consequently, statements made by the company regarding its business operations and future prospects were deemed not only materially false but also lacking a reasonable basis.

Legal Participation Details

For investors who believe they suffered losses during this timeframe, it is crucial to act swiftly. The deadline to request court appointment as the lead plaintiff in this matter is February 18, 2025. However, it is essential to note that participating in any potential recovery does not mandate applicants to take on the role of the lead plaintiff.

No Financial Burden

One of the significant advantages of joining this class action is that affected investors may seek compensation without incurring out-of-pocket costs or fees. This means that there is no financial obligation for class members to participate in this lawsuit.

Why Choose Levi & Korsinsky?

Levi & Korsinsky boasts over 20 years of experience representing aggrieved shareholders. The firm's impressive track record includes securing hundreds of millions for plaintiffs in complex securities litigation. With a dedicated team of over 70 professionals, they stand ready to offer expert legal counsel and representation.

For the last seven years, they have consistently ranked among the top securities litigation firms in the United States according to ISS Securities Class Action Services. This recognition underscores their capability to handle such high-stakes cases effectively.

How to Get Involved

Interested investors can find more information and express their interest in joining the lawsuit by contacting Joseph E. Levi, Esq. via email at email protected] or by calling (212) 363-7500. Additionally, further details can be accessed through the provided link to submit a lawsuit inquiry: [Kaspi.kz Lawsuit Submission Form.

Conclusion

For shareholders of Kaspi.kz, this class action presents an opportunity to claim back losses attributed to the company’s alleged misconduct. Affected investors are encouraged to act promptly to participate and potentially benefit from the outcomes of this significant legal endeavor.