Core Viewpoint - Kaspi.kz is under investigation for potential violations of federal securities laws following a report by Culper Research alleging that the company misled investors regarding its ties to Russia and its business practices [2][3]. Group 1: Allegations and Impact - Culper Research's report claims that Kaspi.kz has systematically misled U.S. investors and regulators about having zero exposure to Russia, particularly before its NASDAQ listing in January 2024 [2]. - The report suggests that Kaspi's relationships with Russian partners are extensive and have materially contributed to its growth since Russia's invasion of Ukraine in February 2022 [2]. - Following the report's release, Kaspi.kz's American Depositary Shares (ADS) dropped by 16.1% on September 19, 2024, and an additional 2.7% on September 20, 2024 [2]. Group 2: Legal Options for Investors - Investors in Kaspi.kz are encouraged to seek legal options and can submit their information to Rosen Law Firm, which operates on a contingency fee basis, meaning no upfront costs for shareholders [3][4].
KSPI BREAKING NEWS: Joint Stock Company Kaspi.kz Investors that Suffered Losses are Encouraged to Contact Rosen Law about Ongoing Investigation into Company – KSPI