#United States #New York #Class Action #Kaspi.kz #Pomerantz LLP

Pomerantz Law Firm's Alert to Kaspi.kz Shareholders

In a significant legal development, the Pomerantz Law Firm has set the stage for a class action lawsuit against Joint Stock Company Kaspi.kz, a prominent fintech and banking entity in Kazakhstan. The firm is urging shareholders who have incurred losses from their investments to take action as the deadline for participation approaches.

Background of the Case

The lawsuit stems from allegations that Kaspi.kz and some of its executives may have engaged in securities fraud, falsely representing the company’s business practices and financial health. Shareholders who acquired Kaspi.kz securities during the designated Class Period are encouraged to reach out to Pomerantz LLP to discuss their options. Those interested in serving as Lead Plaintiff must act before February 18, 2025.

Key Allegations

The class action has emerged in the wake of a concerning report from Culper Research, which accused Kaspi.kz of misleading U.S. investors regarding its ties to Russia. Specifically, the report suggests that the company, which operates one of the largest payment networks in Kazakhstan, has relationships with Russian partners that contradict its public statements claiming zero exposure to Russia.

Culper Research described these allegations as part of a pattern of deception that not only aimed to inflate the firm’s valuation but also concealed potential risks associated with its operations amid geopolitical tensions. The report lit the fuse for investor dissatisfaction, leading to a dramatic plummet in Kaspi.kz’s stock price, which fell by nearly 19% following the revelations.

The Law Firm's Role

Pomerantz LLP has earned a reputation as a leader in the field of securities class actions, reputed for representing the interests of shareholders who have faced financial losses due to corporate misconduct. The firm’s extensive network and proven track record in securing substantial settlements for class members position them as a formidable advocate for those affected by the alleged wrongdoing of Kaspi.kz.

Founded over 85 years ago by Abraham L. Pomerantz, known as the pioneer of class action litigation, the firm continues to uphold its legacy by striving to achieve justice for securities fraud victims.

Next Steps for Shareholders

Affected shareholders are urged to contact Danielle Peyton at the firm for assistance. They should be prepared to provide their contact information, including their mailing address and details of the shares they purchased, to facilitate the process. The firm provides a toll-free number for inquiries:

• - Contact: Danielle Peyton
• - Phone: 646-581-9980 (Toll-free: 888.4-POMLAW, Ext. 7980)

The potential for legal action may help safeguard the interests of aggrieved shareholders, allowing for the examination of Kaspi.kz’s practices and the cultivation of accountability among its leadership.

As the class action unfolds, shareholders will be monitoring developments closely, hoping for transparency and justice as they rally behind Pomerantz LLP’s efforts. For more information and updates on the lawsuit, visit Pomerantz Law Firm's website.