NEW ORLEANS, December 29, 2021 / PRNewswire / – ClaimsFiler, a FREE shareholder information service, reminds investors whose losses exceed $ 100,000 that they have until January 18, 2022 file principal plaintiff claims in a securities class action lawsuit against StoneCo Ltd. (NasdaqGS: STNE), if they bought the securities of the company between March 11, 2021 and November 16, 2021, inclusive (the “Class Period”). This action is in progress in United States District Court of the Southern District of New York.
StoneCo investors should visit us at https://claimsfiler.com/cases/nasdaq-stne/ or call the toll-free number (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the trial
StoneCo and some of its officers are accused of failing to disclose material information during the Class Period, in violation of federal securities laws.
At August 30, 2021, after marketing, the company revealed that it had “implemented prudent measures, such as temporarily halting credit disbursement and increasing coverage of potential future losses, which had an impact on [StoneCo’s] communicated the results for the quarter. ”Then, the November 16, 2021, the company revealed that it would “start testing our [credit] product, which are short-term loans, between the fourth quarter of ’21 and the first quarter of ’22 “, but did not provide specific guidance as to when credit volumes would return to levels before StoneCo does not stop credit origination.
At this news, StoneCo shares plummeted $ 10.96, or 34%, to close at $ 20.70 per share on November 17, 2021.
The case is Ray v. StoneCo Ltd., et al., 21-cv-9620.
ClaimsFiler has one mission: To serve as a source of information to help retail investors reclaim their share of the billions of dollars in securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to access information and settlement websites for various securities class action cases so that they can submit their own claims in a timely manner; (2) upload transactional data from their portfolio to be informed of relevant securities affairs in which they may have a financial interest; and (3) submit inquiries to the law firm Kahn Swick & Foti, LLC for free case assessments.
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