#USA #New York #Rosen Law Firm #Kaspi.kz #KSPI

Rosen Law Firm Calls for Kaspi.kz Investors to Act Amid Class Action Investigation

The Rosen Law Firm, a leading global securities law firm, is urging investors of Joint Stock Company Kaspi.kz (NASDAQ: KSPI) to engage in a securities class action investigation. This comes on the heels of serious allegations suggesting that the company may have misled investors regarding its business practices.

What Led to This Investigation?

On September 19, 2024, a critical report was published by Culper Research, titled "Kaspi.kz (KSPI) The NASDAQ-Listed Fintech Moving Money for Criminals and Kleptocrats." The report posited that Kaspi.kz, which holds the title of Kazakhstan's largest payment network and the second-largest bank, had dishonestly portrayed its operations to US investors and regulators. This includes claims that the firm has no exposure to Russian markets, which the report categorically disputes, citing a pattern of deceitful behavior.

Culper Research highlighted that the relationships with Russian partners are deeply embedded in every sector of Kaspi's operations, especially following Russia's invasion of Ukraine in February 2022. The findings further raise alarming concerns about potential connections to sanctioned oligarchs and organized crime, emphasizing the risks to investors and the value of Kaspi’s shares. Following the report's release, Kaspi.kz's American Depositary Shares (ADS) dropped by 16.1% in a single day, followed by another 2.7% decline the next day.

Investor Compensation and Class Action Participation

If you have acquired securities from Kaspi.kz, you could be eligible for compensation without any upfront costs, thanks to a contingency fee arrangement facilitated by The Rosen Law Firm. The firm is vigorously preparing a class action lawsuit aimed at recovering investor losses stemming from these alarming revelations.

Investors interested in joining the impending class action can easily do so by visiting Rosen Law Firm's website or by contacting Phillip Kim, Esq. at 866-767-3653 for further inquiry.

Experience Matters When Choosing Legal Representation

In light of these events, it is crucial for investors to select experienced counsel capable of leading a successful class action. Many firms providing notices may lack the necessary experience and resources to effectively represent shareholders. The Rosen Law Firm has a proven track record, having achieved significant settlements on behalf of investors in securities class actions, including the highest ever against a Chinese company at the time. The firm's consistent recognition as a leader in securities class-action settlements underscores its capability to recover substantial amounts for its clients.

For instance, the firm recovered over $438 million for impacted investors just in 2019, while its founding partner, Laurence Rosen, was acknowledged as a Titan of the Plaintiffs' Bar by Law360 in 2020.

Investors are advised to stay informed and seek guidance through trusted sources. Follow The Rosen Law Firm on LinkedIn, Twitter, or Facebook for ongoing updates regarding this investigation and other significant developments.

Conclusion

The allegations against Kaspi.kz present a serious cause for concern among shareholders and potential investors. The Rosen Law Firm stands ready to advocate for those affected and help facilitate a pathway to justice and recovery. Shareholders should remain vigilant and proactive in securing their interests in light of these troubling accusations.