DLocal Limited (NASDAQ: DLO)

This lawsuit is for anyone who acquired securities in DLocal Limited (NASDAQ: DLO) from May 2, 2022 through May 25, 2023.

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 proper controls in place to prevent the Company from violating various laws but then the Company violated Argentinean law regarding foreign exchange regulations.

On May 26, 2023, Argentine news outlet Infobae reported that the Argentine government was investigating DLocal for a possible $400 million fraud. Specifically, Infobae reported that the government was investigating the Company for “improper maneuvers” and transfers abroad, with unnamed sources alleging that DLocal “operates as a mere instrument to take advantage of the exchange rate gap and to take dollars abroad with operations that are not reflected in the accounting.” On this news, the price of the Company’s stock again 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 DLocal Limited (NASDAQ: DLO) from May 2, 2022 through May 25, 2023 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.