Joint Stock Company Kaspi.kz (NASDAQ: KSPI)

his lawsuit is for anyone who acquired securities in Joint Stock Company Kaspi.kz (NASDAQ: KSPI) from January 19, 2024 through September 19, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had zero exposure to Russia when actually the Company continued doing business with Russian entities, and also providing services to Russian citizens, after Russia’s 2022 invasion of Ukraine, thereby exposing the Company to the undisclosed risk of sanctions.

On September 19, 2024, Culper Research published a report alleging, among other things, that Kaspi “systematically misled U.S. investors and regulators in its repeated claims – especially ahead of the Company’s January 2024 NADSAQ listing – that the Company has zero exposure to Russia.” The Culper Research report alleges that, in fact “Russia has contributed materially to Kaspi’s reported growth.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Joint Stock Company Kaspi.kz (NASDAQ: KSPI) from January 19, 2024 through September 19, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.