Wolf Popper LLP Announces Investigation on Behalf of Investors in DLocal Limited

November 16, 2022 3:05 PM EST | Source: Wolf Popper LLP

New York, New York--(Newsfile Corp. - November 16, 2022) - Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of DLocal Limited ("DLocal") common stock (NASDAQ: DLO).

DLocal offers payment processing services in 39 emerging market countries. DLocal had its initial public offering on June 2, 2021 and sold over 33 million shares at $21.00 per share.

During the trading day, Muddy Waters published a negative report on DLocal entitled "DLO: "History Never Repeats Itself, but it Does Often Rhyme." The report said "DLO has repeated disclosures about its TPV and accounts receivable that flatly contradict one another. There is also a contradictory discrepancy between two key subsidiaries' accounts payable and accounts receivable." The report also said, "As we dug in, we found a series of lies that the company has told, along with accounts it has altered to corroborate the lies," and "DLO has one of the most extensive catalogs of governance shortcomings we can recall, creating opportunities for impropriety." Lastly, DLocal management has sold approximately $1 billion in stock within the first five months of going public. In intraday trading on November 16, 2022, DLocal's stock price is down $10.18 per share to $11.04, or a drop of 48.0%.

Investors who have lost over $25,000 trading in DLocal's common stock and who would like to discuss the investigation should contact Adam Savett at (610) 621-4550, or asavett@wolfpopper.com.

Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at www.wolfpopper.com.

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Wolf Popper LLP
Adam Savett
845 Third Avenue
New York, NY 10022
Tel.: (610) 621-4550
Email: asavett@wolfpopper.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144542

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