Investors Urged to Join Class Action Lawsuit Against Kaspi.kz for Alleged Securities Fraud

Joint Stock Company Kaspi.kz Class Action Lawsuit: What Investors Need to Know

Levi & Korsinsky, LLP has issued a notice to investors of Joint Stock Company Kaspi.kz (NASDAQ: KSPI) regarding a class action lawsuit stemming from alleged securities fraud during the period of January 19, 2024, to September 19, 2024. This announcement comes as investors are encouraged to take the necessary steps to protect their rights before the deadline of February 18, 2025.

Class Definition and Allegations

The class action aims to recoup losses for those who suffered due to the alleged fraudulent activities of the company. According to the lawsuit, the defendants are accused of making misleading statements, such as:

1. Continuing business operations with Russian entities and providing services to Russian citizens in the wake of the 2022 Ukraine invasion, putting the Company at risk of sanctions.
2. Engaging in undisclosed related party transactions that could have significant implications for the company's financial health.
3. Association of certain executives with known criminal elements, raising concerns over the ethical management of the company.
4. Presenting materially false and misleading information about the company's business prospects and operations.

These allegations suggest that the public statements made by Joint Stock Company Kaspi.kz were not grounded in reality, potentially misleading investors and impacting market trust.

Seeking Justice through Class Action

For investors who sustained losses, this lawsuit presents an opportunity to seek justice. The deadline to join the class action or determine the lead plaintiff status is February 18, 2025. Investors who wish to participate do not have to serve as lead plaintiffs to receive possible compensation from a settlement.

Levi & Korsinsky emphasizes that there are no out-of-pocket costs to participate, and investors might be able to recover losses without any financial risk.

Why Choose Levi & Korsinsky?

Over the last two decades, Levi & Korsinsky has established itself as a leading force in securities litigation, recovering hundreds of millions of dollars for investors. The firm is recognized as one of the top 50 securities litigation firms according to ISS Securities Class Action Services, affirming its expertise in high-stakes cases.

With a dedicated team of over 70 professionals, the firm is committed to representing investors’ rights fiercely and effectively. For potential participants, Levi & Korsinsky provides a promise of thorough support and guidance throughout the legal process.

Contact Information

Investors interested in learning more about their rights in the Kaspi.kz class action are encouraged to reach out directly to Levi & Korsinsky. For inquiries or to participate, contact:

- Joseph E. Levi, Esq.
- Email: [email protected]
- Phone: (212) 363-7500
- Address: 33 Whitehall Street, 17th Floor, New York, NY 10004

For those affected, the class action lawsuit represents a critical step in recovering investments that may have been lost due to these alleged fraudulent activities. Immediate action is encouraged to ensure that investors do not miss their chance to participate in this important legal proceeding.