#United States #New York #Class Action #Kaspi.kz #investors

Investor Alert: Kaspi.kz Class Action Lawsuit Announcement

On January 1, 2025, Bronstein, Gewirtz & Grossman LLC, a nationally acclaimed law firm, published an urgent notification regarding a class action lawsuit against the Joint Stock Company Kaspi.kz, also known as "Kaspi.kz" or "the Company," trading under NASDAQ symbol KSPI. The firm is reaching out to investors who experienced substantial losses while holding Kaspi.kz securities, particularly during the designated class period from January 19, 2024, to September 19, 2024.

Details of the Class Action

The lawsuit aims to recover damages incurred due to alleged violations of federal securities laws by the defendants, which include Kaspi.kz and certain high-ranking officers associated with the company. According to the official complaint, during the class period, Kaspi.kz's management allegedly made numerous misleading statements and/or failed to disclose concerning information, which has led to investor grievances.

Key Allegations

The core of the complaint revolves around several critical points:
1. Continued Business Operations in Russia: It is alleged that Kaspi.kz maintained its business ties with Russian entities and provided services to Russian citizens even after Russia's invasion of Ukraine in 2022. This decision raised undisclosed risks regarding potential sanctions against the Company.
2. Undisclosed Related Party Transactions: The lawsuit claims that the Company engaged in transactions with related parties that were not disclosed to shareholders, which may have hindered the transparency of the Company's financial dealings.
3. Executive Criminal Links: There are claims suggesting that several executives at Kaspi.kz have connections with individuals known to have criminal backgrounds, further complicating the Company’s operational integrity.
4. Misleading Statements Regarding Prospects: The lawsuit posits that the information disseminated about Kaspi.kz’s business operations and future prospects was grossly misleading, lacking a reasonable basis for the claims made.

These allegations form the backbone of the lawsuit, indicating significant mismanagement and a breach of investor trust, resulting in considerable financial loss for shareholders.

Next Steps for Affected Investors

Investors who acquired Kaspi.kz securities within the specified dates are encouraged to join the lawsuit by visiting bgandg.com/KSPI to review the complaint and understand their legal options. Furthermore, the window for requesting the court to appoint them as lead plaintiffs will close on February 18, 2025. Importantly, individuals wishing to relieve their losses do not necessarily need to serve as lead plaintiffs to participate in any potential recovery.

Zero Cost Representation

Bronstein, Gewirtz & Grossman LLC operates on a contingency fee basis when representing investors involved in class actions. This means that fees and expenses are only recouped from the successful total recovery in favor of the class, eliminating upfront costs for participating investors.

Why Choose Bronstein, Gewirtz & Grossman?

With a strong national presence, Bronstein, Gewirtz & Grossman LLC specializes in defending the rights of investors affected by securities fraud. The firm has a proven track record of recovering substantial amounts for investors across various cases. They encourage potential clients to follow their updates on prominent social media platforms like LinkedIn, X, Facebook, and Instagram.

For additional inquiries, investors may directly reach out to Peretz Bronstein, Esq., or Nathan Miller, Client Relations Manager, at 332-239-2660.

Conclusion

This development underscores the pressing need for accountability in corporate governance and transparency, particularly regarding international operational decisions that affect stakeholder engagement in volatile political climates. Investors processed under these claims should consider taking legal action promptly to secure their interests effectively.

Legal Disclaimer: Attorney advertising. Past results do not guarantee similar outcomes.