DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Qiwi Plc and Encourages Investors to Contact the Firm
NEW YORK–(BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that in the U.S. District Court for the Eastern District of New York on behalf of investors, Qiwi Plc (NASDAQ: QIWI) held securities between Jan. March 2019 and December 9, 2020 (the “Class Period”). Investors have until February 9, 2021 to apply to the court for appointment as the lead plaintiff in the lawsuit.
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Together with its subsidiaries, Qiwi pretends to operate electronic online payment systems mainly in Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates and internationally.
On December 9, 2020, after the market closed, Qiwi filed a Form 6-K with the SEC announcing that the Russian central bank has fined approximately $ 150,000 for poor record-keeping and reporting and conduct The company’s most exposed types of payments to overseas merchants and money transfers to prepaid cards from company accounts.
In that news, Qiwi’s ADS price fell $ 2.80 per share, or 20.6%, to close at $ 10.79 per share on December 10, 2020.
The complaint filed on December 11, 2020 alleges that throughout the classroom, the defendants made false and / or misleading statements and / or failed to disclose that: (1) Qiwi’s internal controls over reporting and records were ineffective were; (2) As a result, the Central Bank of Russia would fine the company and limit the company’s ability to make payments to foreign merchants and transfer money to prepaid cards. and (3) as a result, the defendants’ public statements at all relevant times have been materially false and / or misleading. When the real details hit the market, the lawsuit alleged that investors suffered damage.
If you have purchased QIWI securities during the class period and have suffered a loss, have information, want to learn more about these claims, or have any questions about this announcement or your rights or interests in relation to these matters, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by emailing email@example.com, by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.