The New York law firm, Pomerantz, is pursuing a class-action shareholder lawsuit against the Uruguayan unicorn.
dLocal continues adding chapters that commit him, this time, in USAwhere a New York law firm filed a class action lawsuit against him in that country’s courts for suspicions of fraud in the Uruguayan unicorn.
The law firm of New York announced the lawsuit against the Uruguayan unicorn company through an official statement. “Pomerantz LLP announces that a class action lawsuit has been filed against DLocal Limited (“DLocal” or the “Company”) (NASDAQ: DLO) and some executives,” the letter states, without determining the people involved in the lawsuit, according to the Argentine media. , Infobae.
The lawsuit establishes that all persons and entities that purchased or acquired shares of dLocal during May 2, 2022 and May 25, 2023 they seek to “recover the damages caused by the violations of federal laws”. Meanwhile, the complaint states that the company made “materially false and misleading statements regarding its business, operations, and compliance policies.”
On the other hand, they added that “dLocal “engaged in certain inappropriate conduct and transfers abroad in violation of Argentine laws and/or regulations, including, among others, exchange regulations.” Ultimately, the lawsuit establishes that the Uruguayan unicorn carried out actions that harmed those who purchased shares of the company.
The lawsuit was filed in the Court of Eastern District of New York and is carried out by attorney Robert S. Willoughby, representing all people and entities that purchased shares of the company. On the other hand, the complaint establishes that other people who consider that they have been harmed by the company have the right to join the case until December 5.
A different story four months ago
Immersed in accusations by the Argentine government four months ago for overbilling, the company was the protagonist of a great gesture by the US stock market. USA. dLocal participated in the emblematic opening of Nasdaq in commemoration of two years of participation in the Stock Exchange.
The president of the company, Sergio Fogel, was able to ring the opening bell of Nasdaq at the beginning of June to celebrate two years of participation – completed on June 3 – of listing on the Stock Exchange.
The commonly known “Opening Bell” represents the beginning of the trading day and has an emblematic meaning for those who participate since it symbolizes a gesture by the United States financial market for companies that are invited to be part of the event
Source: Ambito
