February 18, 2025 Deadline: Contact Levi & Korsinsky to Join Class Action Suit Against KSPI

Key Takeaways:

• Class action lawsuit filed against Joint Stock Company Kaspi.kz (NASDAQ: KSPI).
• Allegations of continued business with Russian entities post-2022 invasion of Ukraine.
• Claims of undisclosed related party transactions and executive links to reputed criminals.
• Investors affected between January 19 and September 19, 2024, must act by February 18, 2025.
• Participation in the lawsuit is offered at no cost or obligation by Levi & Korsinsky.

Kaspi.kz Faces Class Action Lawsuit Over Alleged Securities Fraud

Investors in Joint Stock Company Kaspi.kz (NASDAQ: KSPI) have been notified of a class action securities lawsuit filed against the company. The lawsuit, initiated by Levi & Korsinsky, LLP, seeks to recover losses on behalf of investors who were adversely affected by alleged securities fraud between January 19, 2024, and September 19, 2024.

Allegations of Undisclosed Russian Business Ties

The complaint alleges that Kaspi.kz continued conducting business with Russian entities and provided services to Russian citizens following Russia’s 2022 invasion of Ukraine. This action allegedly exposed the company to undisclosed risks of sanctions.

“Joint Stock Company Kaspi.kz continued doing business with Russian entities, and also providing services to Russian citizens, after Russia’s 2022 invasion of Ukraine, thereby exposing the Company to the undisclosed risk of sanctions,” the lawsuit states.

Undisclosed Related Party Transactions

In addition to the alleged Russian ties, the lawsuit claims that Kaspi.kz engaged in undisclosed related party transactions. Such omissions can mislead investors about the true financial health and operations of the company.

Executive Links to Reputed Criminals

The lawsuit further alleges that certain executives of Kaspi.kz have links to reputed criminals. These associations raise concerns about the company’s governance and the integrity of its leadership.

Impact on Investors

As a result of these actions, the lawsuit asserts that Kaspi.kz’s statements about its business, operations, and prospects were materially false and misleading. Investors who purchased or acquired securities during the affected period may have suffered significant losses.

Deadline for Investor Action

Affected investors have until February 18, 2025, to request that the court appoint them as lead plaintiff in the lawsuit. Serving as a lead plaintiff is not a requirement to share in any potential recovery.

No Cost or Obligation to Participate

There is no cost or obligation for investors to participate in the lawsuit. Class members may be entitled to compensation without payment of any out-of-pocket fees.

About Levi & Korsinsky, LLP

With over 20 years of experience, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm specializes in complex securities litigation and boasts a dedicated team of over 70 employees. For seven consecutive years, it has been ranked in ISS Securities Class Action Services’ Top 50 Report among the top securities litigation firms in the United States.

Contact Information

Investors seeking more information can contact Joseph E. Levi, Esq., via email at

Conclusion

Investors in Kaspi.kz who believe they were affected by the alleged securities fraud are encouraged to act before the February 18, 2025 deadline. Participation in the class action lawsuit offers a chance to recover potential losses at no additional cost.