#United States #New York #Class Action #Levi & Korsinsky #Kaspi.kz

Kaspi.kz Class Action Notification for Investors

Levi & Korsinsky, LLP is bringing attention to investors of Joint Stock Company Kaspi.kz, also known as KSPI, notifying them of a pending class action lawsuit. The legal firm has termed its aim as recovering losses sustained by those affected by alleged securities fraud during a specific timeframe. The lawsuit covers incidents from January 19, 2024, to September 19, 2024.

Details of the Case

The lawsuit has been filed to advocate for the interests of shareholders who might have been misled regarding the company’s practices and operational transparency. Among the critical claims made by the plaintiffs, four primary allegations stand out:
1. Continued Operations with Russian Entities: The complaint alleges that Kaspi.kz maintained business dealings with various Russian entities and offered services to Russian nationals even after the geopolitical tensions escalated in 2022. This potentially exposed the company to undisclosed sanction risks due to its operational choices.
2. Hidden Related Party Transactions: It is claimed that Kaspi.kz engaged in undisclosed financial transactions involving parties with vested interests that weren’t made transparent to the shareholders, raising concerns about conflicts of interest and lack of accountability.
3. Executives' Criminal Links: The document further notes that specific executives within the company may have connections to individuals with criminal backgrounds. This suggests a concerning lack of due diligence in hiring practices that could have significant implications for the company's reputation.
4. Misleading Statements: Lastly, the lawsuit asserts that the statements made by the defendants regarding the business operations, prospects, and overall financial health of Kaspi.kz were found to be materially false and misleading, ultimately impacting shareholder trust and investment decisions.

What Should Investors Do?

For individuals who have experienced financial losses during the aforementioned period, it is crucial to act promptly. The deadline to request being appointed as lead plaintiff is set for February 18, 2025. It’s important to note that participation in the lawsuit does not necessitate serving in this leading role and that any eventual recovery could extend to all class members regardless of their participation status in the leadership.

Cost-Free Participation

Investors should take heart in knowing that if they are classified as a class member, they might be entitled to possible compensation without any direct out-of-pocket expenses. The legal team emphasizes that there is no fee or hidden obligation to participate in this lawsuit.

Trust in Levi & Korsinsky

Having established a strong reputation over the past two decades for securing substantial recoveries for investors, Levi & Korsinsky has successfully positioned itself as a leader in complex securities litigation. They have a dedicated staff of over 70 professionals committed to representing client interests effectively. For seven consecutive years, the firm has been recognized in the Top 50 Report by ISS Securities Class Action Services, highlighting its proficiency in addressing high-stakes cases.

How to Get in Touch

Interested parties can reach out to Levi & Korsinsky for further details or clarifications regarding the class action lawsuit. Joseph E. Levi, Esq., and Ed Korsinsky, Esq. are available to answer any queries you might have:

• - Email: info@zlk.com
• - Phone: (212) 363-7500
• - Address: 33 Whitehall Street, 17th Floor, New York, NY 10004

The firm encourages all affected investors to consult their team to safeguard their rights and navigate through this challenging time effectively.