NEW YORK, Oct. 25, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Joint Stock Company Kaspi.kz ("Kaspi" or the "Company") (NASDAQ: KSPI).  Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Kaspi and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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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 NASDAQ listing–that the Company has zero exposure to Russia", when in fact "Russia has contributed materially to Kaspi's reported growth." 

Following publication of the Culper Research report, Kaspi's American Depositary Receipt ("ADR") price fell $19.20 per ADR, or 16.13%, to close at $99.81 per ADR on September 19, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

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CONTACT:

Danielle Peyton

Pomerantz LLP

dpeyton@pomlaw.com

646-581-9980 ext. 7980

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SOURCE Pomerantz LLP