#United States #New York #Bronstein #Gewirtz #Kaspi.kz

Class Action Lawsuit Against Kaspi.kz: What You Need to Know

The law firm Bronstein, Gewirtz & Grossman, LLC has announced a class action lawsuit against Kaspi.kz, the publicly-traded company listed under NASDAQ with the stock symbol KSPI. Investors who suffered significant losses during the period from January 19, 2024, to September 19, 2024, may have an opportunity to seek justice and compensation through this legal action.

Allegations Against Kaspi.kz

The lawsuit alleges several critical issues regarding Kaspi.kz’s operations and disclosures. It claims that the company was involved in questionable practices that could have severe implications for investors:

1. Continued Operations in Russia: Despite the global backlash arising from Russia's invasion of Ukraine in 2022, Kaspi.kz allegedly continued to conduct business with Russian entities and provided services to Russian citizens. This could expose the company to unforeseen sanctions and regulatory risks, which were not disclosed to investors.
2. Undisclosed Related Party Transactions: The complaint also suggests that the company engaged in several related-party transactions that were not fully disclosed, raising questions about transparency and corporate governance at Kaspi.kz.
3. Links to Criminal Entities: It further alleges that certain executives at Kaspi.kz have connections to reputed criminals, undermining the company's integrity and credibility in the eyes of the investors.
4. Misleading Statements: Throughout the class period, statements made by the company regarding its business operations and future prospects were deemed materially false and lacked sufficient evidence, leading to investor misjudgment about the company’s real standing.

The culmination of these issues suggests that when the truth became evident, many investors faced steep financial losses, prompting the current legal action.

Class Action Details

Investors who wish to be part of this class action can do so by visiting the website at bgandg.com/KSPI, where they can review the complaint and understand their rights and options. The law firm encourages all affected investors to act swiftly, as the deadline to request the court to appoint a lead plaintiff is February 18, 2025. However, it’s important to note that you do not need to be the lead plaintiff to participate in any future recovery.

Contingency Fee Basis

Bronstein, Gewirtz & Grossman operates on a contingency fee basis. This means that investors will not incur any upfront costs to join the class action. Instead, the firm will cover its legal fees and expenses, which are typically reimbursed from any financial recovery obtained through the lawsuit. This model offers a low-risk opportunity for investors to seek justice without the worry of financial obstacles.

The Firm’s Track Record

Bronstein, Gewirtz & Grossman is a well-established, nationally recognized firm that has recovered hundreds of millions for investors in past securities fraud cases. Their focus on holding companies accountable for misleading practices aligns with their mission to ensure that shareholders receive the justice they rightfully deserve.

Next Steps for Investors

Affected investors should not wait any longer to explore their options. With these serious allegations on the table and the potential for significant recovery, joining this class action could be a pivotal step. Interested parties can reach out to the firm directly at 332-239-2660 to gather more information or ask any pressing questions regarding their situations.

Stay informed about the progress of the lawsuit and any updates by following Bronstein, Gewirtz & Grossman on their social media platforms including LinkedIn, X (formerly Twitter), Facebook, and Instagram.

If you believe your investments in Kaspi.kz have been affected by the circumstances outlined in this article, now is the time to take action. Don’t let the opportunity for accountability and recovery pass you by.