STONECO SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against StoneCo Ltd.

NEW ORLEANS, December 22, 2021 / PRNewswire / – Kahn Swick & Foti, LLC (“KSF”) and KSF Affiliate, former Attorney General of Louisiana, Charles C. Foti Jr., Remind investors that they are up January 18, 2022 Motions by lead plaintiffs in a securities class action lawsuit against StoneCo Ltd. (NasdaqGS: STNE) when they submit the company’s securities between March 11, 2021 and November 16, 2021, including (the “Class Period”). This action is pending in The United States District Court for the southern district of new York.

(PRNewsfoto / Kahn Swick & Foti, LLC)

What you can do

If you have purchased StoneCo securities and would like to discuss your legal rights and how this could affect you and your right to reimbursement of your economic loss, you can contact KSF Managing Partner Lewis Kahn at 1-877-515 free of charge and without obligation -1850 or by email ([email protected]) or visit https://www.ksfcounsel.com/cases/nasdaqgs-stne/ to learn more. If you want to be the lead plaintiff in this class action lawsuit, you must file a motion with the court January 18, 2022.

About the lawsuit

StoneCo and some of its executives are charged with failure to disclose material information during the class action period in violation of federal securities laws.

on August 30, 2021Post-market, the company announced that it has “taken some prudent steps, such as temporarily suspending loan disbursements and increasing coverage for potential future losses that may affect the company [StoneCo’s] Quarterly results reported. “Then on November 16, 2021, the company announced that it would “start testing our original again”. [credit] However, Product, which is short-term borrowing between the fourth quarter of ’21 and the first quarter of ’22 “, gave no concrete indication of when loan volumes would return to levels prior to StoneCo ceasing to lend.

On the news, StoneCo’s shares fell $ 10.96, or 34% to at. close $ 20.70 per share November 17, 2021.

The story goes on

The case is Ray v. StoneCo Ltd., et al., 21-cv-9620.

About Kahn Swick & Foti, LLC

KSF, to whose partners former Louisiana Attorney General Charles C. Foti Jr., is one of the leading boutique securities litigation law firms in the country. KSF assists a wide range of clients – including public institutional investors, hedge funds, asset managers and private investors – in finding reclaims for investment losses resulting from corporate fraud or misconduct by listed companies. KSF has branches in new York, California, Louisiana and New Jersey.

To learn more about KSF, visit www.ksfcounsel.com.

Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Executive Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163

Cision

Cision

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SOURCE Kahn Swick & Foti, LLC

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