The Joint (JYNT) Prnewswire·2025-02-17 11:02Core Viewpoint - The article discusses a class action lawsuit against Joint Stock Company Kaspi.kz, alleging violations of the Securities Exchange Act of 1934 due to misleading statements and undisclosed risks related to its business operations with Russian entities following the 2022 invasion of Ukraine [1][3]. Group 1: Lawsuit Details - The class action lawsuit is titled Krivenok v. Joint Stock Company Kaspi.kz and covers purchasers of Kaspi.kz securities from January 19, 2024, to September 19, 2024 [1]. - Investors have until February 18, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that Kaspi.kz continued business with Russian entities and provided services to Russian citizens, exposing the company to undisclosed sanction risks [3]. Group 2: Allegations and Impact - The lawsuit claims that Kaspi.kz engaged in undisclosed related party transactions and that certain executives have links to reputed criminals [3]. - A report by Culper Research on September 19, 2024, titled "Kaspi.kz (KSPI): The NASDAQ-Listed Fintech Moving Money for Criminals and Kleptocrats," led to a nearly 19% drop in the price of Kaspi.kz American depositary shares over two trading sessions [4]. Group 3: Legal Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Kaspi.kz securities during the class period to seek lead plaintiff status [5]. - The lead plaintiff represents the interests of all class members and can select a law firm of their choice for litigation [5]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud cases, having recovered $6.6 billion for investors in such cases [6]. - The firm has been ranked 1 in securing monetary relief for investors in six out of the last ten years [6].