#United States #New York #Rosen Law Firm #Securities Class Action #Kaspi.kz

Rosen Law Firm Investigates Kaspi.kz Securities Claims

Overview

The Rosen Law Firm, a prominent global advocate for investor rights, has announced an ongoing investigation regarding potential securities claims affecting shareholders of Joint Stock Company Kaspi.kz (NASDAQ: KSPI). This inquiry arises amid troubling allegations that the company may have disseminated materially misleading information related to its business operations, warranting serious attention from investors.

Background of the Investigation

On September 19, 2024, a report was published by Culper Research, detailing serious accusations against Kaspi.kz, which operates the largest payment network and is the second-largest bank in Kazakhstan. The report titled "Kaspi.kz (KSPI) The NASDAQ-Listed Fintech Moving Money for Criminals and Kleptocrats" outlines claims that Kaspi.kz has systematically misled investors and regulators, particularly leading up to its January 2024 listing on NASDAQ. Culper Research has pointed out that the company publicized claims of having no exposure to Russian economic ties, which they allege is a significant deception.

According to the report, Kazpi.kz's business dealings allegedly reveal extensive relationships with Russian partners, raising concerns about the integrity and origin of its reported growth. Amid the geopolitical tensions from Russia's actions in Ukraine, it appears that Kaspi.kz’s connections with Russian entities could be more pervasive than disclosed. The report suggests that this could not only threaten the company’s valuation but also jeopardize investor confidence. Following the revelations, the share price of Kaspi.kz’s American Depositary Shares (ADS) plunged by 16.1% on the announcement date, further dropping by 2.7% the next day.

Implications for Investors

In light of these allegations, Rosen Law Firm urges investors who purchased securities of Kaspi.kz to consider their legal options for compensation. Utilizing a contingency fee arrangement, affected investors may seek recourse without any out-of-pocket expenses for legal services. This means that if the class action is successful, fees will be deducted from the recovery amount rather than upfront.

Joining the Class Action

Investors wishing to join the potential class action against Kaspi.kz can do so by visiting Rosen Legal's submission page or by contacting Phillip Kim, Esq. at 866-767-3653. Interested parties should act quickly as there are deadlines associated with class action suits.

Why Choose Rosen Law Firm?

The Rosen Law Firm stands out for its extensive experience and proven track record in managing securities class actions. Investors are encouraged to select legal counsel that has demonstrated success in representing shareholder interests. Rosen Law Firm has achieved significant settlements in similar cases, having secured hundreds of millions of dollars for their clients.

In 2019 alone, the firm recovered over $438 million for investors, earning recognition from legal industry benchmarks such as Law360 and ISS Securities Class Action Services. This distinguished reputation underlines the law firm’s capability and dedication to advocating for those wronged in securities transactions.

Conclusion

With the potential risks to investor securities stemming from Kaspi.kz's operational assertions, it is imperative for shareholders to stay informed and proactive. Rosen Law Firm is committed to ensuring that investors impacted by misleading corporate practices can seek justice and recover their losses. Follow Rosen Law Firm for updates on their investigations and developments related to Kaspi.kz on platforms like LinkedIn, Twitter, and Facebook.

Attorney Advertising. Prior results do not guarantee a similar outcome.