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Newsfile 26-May-2023 7:32 PM
Los Angeles, California--(Newsfile Corp. - May 26, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of DLocal Limited ("DLocal" or "the Company") (NASDAQ:DLO) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. DLocal is the subject of a report published by Muddy Waters Research on November 16, 2022. The report, titled, "DLO: 'History Never Repeats Itself, but it Does Often Rhyme'", concludes that "DLO is likely a fraud." The report claims that the Company "has repeated disclosures about its TPV and accounts receivable that flatly contradict one another. There is also a contradictory discrepancy between two key subsidiaries' accounts payable and accounts receivable. These types of seemingly innocuous misstatements are, instead, often signs of cooked books because it can become quite a strain to keep the numbers straight once you start manipulating them." The report adds, "Management and directors dumped an extraordinary ~$1 billion in shares within the first five months of DLO being public. A spate of recent high-level departures brings to mind the idiom about 'rats fleeing a sinking ship.'" Based on this report, shares of DLocal fell by more than 37% in intraday trading on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm
Brian Schall, Esq.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/167787