• Powered by Crown Equity Holdings Inc.
      • crown-logo

        Crown Equity Holdings Inc. is publicly traded with the symbol CRWE. The Company primarily provides and offers advertising, branding, marketing solutions and services to boost customer awareness, as well as merchant visibility as a worldwide online multi-media publisher. For list of services offered click here

Post on CRWE World Login
logo Cambridge, UNITED STATES
header-img
  • Home
  • News
  • World
      • World News
      • Español
  • Politics
      • U.S. Legislators
      • Political News
  • Sports
  • Business
      • Markets
      • Hottest Stocks Today
      • CRWEWorld Stocks
      • Blockchain
      • Regulatory
      • Accounting
      • Fundraising Campaigns
      • IPOs
      • Money
      • Career
  • Tech
      • Tech
      • Science
  • Living
      • Arts & Entertainment
      • Family
      • Food
      • Pets
      • Seniors
      • Fashion/Fitness
      • Home & Garden
  • Health
      • Health
      • Pharma & Biotech
  • Opinion
      • Finance
      • Law
      • Healthcare
      • Cannabidiol (CBD)
      • Fashion
      • Podcasts
      • Tech
      • Music
  • Travel
  • Local
      • News
      • Trending Now
      • Real Estate
      • Coupons & Deals
      • Business Directory
  • Jobs
  • More
      • Business 2 Business
      • Press Releases
      • Press Releases Pricing
      • News from GlobeNewswire
      • News from PR Newswire
      • News from Business Wire
      • News from Accesswire
      • Video Channels
      • Beauty
      • Business
      • Comedy
      • Entertainment
      • Fashion
      • Featured
      • Health
      • Instructional
      • News
      • Politics
      • Sports
      • Technology
      • Entertainment
      • Horoscope
      • Sudoku
      • Crossword
      • Games
      • Chat
      • Affiliate | How It Works
      • Join CRWE WORLD Affiliate Program
      • CRWE WORLD Advertising Services Rate
      • Crown Equity Holdings' Overview
      • CRWEWorld Real-Time Global Visitors
      • Content Delivery Solution
        • Contact Us
  • More

Change City


-- OR --
load
load
/assets/img/hottest3.png
/assets/img/hottest3.png

/assets/img/reef2.png
/assets/img/red-line.jpg
/assets/img/reef.png
  • Home
  • Articles
  • News Provided by PR Newswire
21ьз╕ Cweather-icon
/assets/img/hottest3.png
/assets/img/hottest3.png

/assets/img/reef2.png
/assets/img/red-line.jpg
/assets/img/reef.png

DEADLINE APPROACHING: StoneCo Ltd. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - STNE

News Provided by PR Newswire2021-12-04
51 Views

DEADLINE APPROACHING: StoneCo Ltd. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - STNE

 
[04-December-2021]
 

SAN DIEGO, Dec. 4, 2021 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers of StoneCo Ltd. (NASDAQ: STNE) securities between March 11, 2021 and November 16, 2021, both dates inclusive (the "Class Period") have until January 18, 2022 to seek appointment in Ray v. StoneCo Ltd., No. 21-cv-09620 (S.D.N.Y.).  Commenced on November 19, 2021, the StoneCo class action lawsuit charges StoneCo and certain of its top executives with violations of the Securities Exchange Act of 1934. 

If you wish to serve as lead plaintiff of the StoneCo class action lawsuit, please provide your information by clicking here.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.  Lead plaintiff motions for the StoneCo class action lawsuit must be filed with the court no later than January 18, 2022.

CASE ALLEGATIONS: StoneCo is a provider of financial technology solutions that allows merchants and other vendors to conduct electronic commerce across in-store, online, and mobile channels, primarily in Brazil.

The StoneCo class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) StoneCo was experiencing difficulties in implementing its credit product; (ii) StoneCo faced significant risks via its point-of-sale vendor, PAX Global Technology Ltd.; (iii) as a result, StoneCo's financial results would be adversely impacted; and (iv) consequently, defendants' positive statements about StoneCo's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On August 30, 2021, StoneCo reported an 8.1% year-over-year decrease in revenue "mainly due to adjustments in credit fair value and significantly lower credit disbursements."  StoneCo further reported that it had "implemented some prudent actions, like temporarily stopping the disbursement of credit and increasing coverage for potential future losses, which impacted [StoneCo's] reported results for the quarter."  On this news, StoneCo's share price fell.

Then, on October 26, 2021, PAX Global Technology Ltd.'s Florida offices were raided by the U.S. Federal Bureau of Investigation, the Department of Homeland Security, and several other agencies as part of a federal investigation.  As a Viceroy Research report on October 27, 2021 pointed out, StoneCo states that PAX "is no longer [its] sole provider of POS services, [but StoneCo is] still substantially dependent on it to manufacture and assemble a substantial amount of [its] POS devices."  Moreover, another company replaced its PAX terminals "because it did not receive satisfactory answers from PAX regarding its POS devices connecting to websites not listed in their supplied documentation."  On this news, StoneCo's share price fell an additional 7%.

Finally, on November 16, 2021, StoneCo announced that it would "start retesting our original [credit] product, which is short-term loans, between the fourth quarter of '21 and the first quarter of '22."  StoneCo could not provide specific guidance about when credit volumes would return to levels before StoneCo had halted origination of credit.  On this news, StoneCo's share price fell another 34%, further damaging investors.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased StoneCo securities during the Class Period to seek appointment as lead plaintiff in the StoneCo class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the StoneCo class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the StoneCo class action lawsuit.  An investor's ability to share in any potential future recovery of the StoneCo class action lawsuit is not dependent upon serving as lead plaintiff. 

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions.  Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.  The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors last year, more than double the amount recovered by any other securities plaintiffs' firm.  Please visit http://www.rgrdlaw.com for more information. 

Attorney advertising.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.

Contact:

Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA  92101
J.C. Sanchez, 800-449-4900
jsanchez@rgrdlaw.com

https://www.linkedin.com/company/rgrdlaw
https://twitter.com/rgrdlaw
https://www.facebook.com/rgrdlaw

Cision View original content:https://www.prnewswire.com/news-releases/deadline-approaching-stoneco-ltd-investors-with-substantial-losses-have-opportunity-to-lead-class-action-lawsuit--stne-301437424.html

SOURCE Robbins Geller Rudman & Dowd LLP


Company Codes: NASDAQ-NMS:STNE


© 2021 PR Newswire. All Rights Reserved.

The news, reports, views and opinions of authors (or source) expressed are their own and do not necessarily represent the views of CRWE World.


Ohio man charged with aiding and abetting plot to murder former U.S. President



/assets/img/Reliance-Law-Firm.png

/assets/img/cw-stocks.png

/assets/img/wysh-jewels.png

/assets/img/Mars-Parachute-2.png

/assets/img/crweworld-podcast.jpg
Sponsored
Also read
Enthusiast Gaming Issues Statement Addressing Misleading, Baseless Letter from Activist Greywood Investments
Teck Announces Cash Tender Offer for up to US$500 million of Debt Securities
Allegiance Bancshares, Inc. and CBTX, Inc. Shareholders Approve Merger
Hudbay Receives Favourable U.S. District Court Ruling on Copper World
Karora Resources Announces C$50 Million Bought Deal Financing
Jens Monsees Steps Into the CEO Role at Infomedia
Standard Lithium to Participate at Citi’s Lithium & Battery Day Thursday, May 26, 2022
Canadian Net REIT Announces the Acquisition of Four Properties in Nova Scotia and Quebec


Post on CRWE WorldSign Up for Free E-mail Updates
  • Real Estate Eagle Firm, Real Estate
  • Authentic Dominican Larimar & Amber Stone Jewelry
  • Share knowledge and ideas about stocks on CRWE World Stocks
  • Reliance Law Firm, Corporate Fraud, Securities Fraud, Business Law
Signup for free email updates
/assets/img/wall-street-rect2.png
/assets/img/wall-street-sq.png



Join with us
Live Traffic Feed
About CrweWorld
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Finance Disclaimer
  • Jobs
Subscribe for newsletter
3+2
Contact Info
  • contact@crweworld.com

  • P: (702) 683-8946

  • P: (702) 810-0178

  • 11226 Pentland Downs St, Las Vegas, NV 89141

Tweets by CrweWorld
Tweets by @CrweWorld
  • © 2022 crweworld.com
ad1

/assets/images/ad/crwe_tech.jpg

Your Technology Source, Your Technology Team

Server Maintenance, Web Development, Mobile Application Solutions, SEO Services and more

Contact Us: contact@crwetech.com

www.CRWETech.com

ad2

/assets/images/ad/content-delivery-solution.jpg

 

Our content delivery solution through CRWE WORLD, CRWE Press Release and CRWE Tube gives corporations and businesses a vehicle to expand their exposure

CLICK HERE FOR MORE INFORMATION

ad3

/assets/img/crwe_info.png

CRWE Info ( CRWE.Info ) provides news and updates about Crown Equity Holdings Inc. and the CRWE World platform

www.crwe.info

ad4

/assets/images/ad/crwetube.png

Share your videos. Upload your videos for free on CRWETube

www.CRWETube.com

ad5

/assets/images/ad/ad4.png

 

Place Your Ad Here! Advertise your business online on CRWE WORLD. Your Company, product, or service in front of the world!

Contact Us: contact@crweworld.com

www.CRWEWorld.com

Advertisements

/assets/images/ad/crwe_tech.jpg

Your Technology Source, Your Technology Team

Server Maintenance, Web Development, Mobile Application Solutions, SEO Services and more

Contact Us: contact@crwetech.com

www.CRWETech.com

/assets/images/ad/content-delivery-solution.jpg

 

Our content delivery solution through CRWE WORLD, CRWE Press Release and CRWE Tube gives corporations and businesses a vehicle to expand their exposure

CLICK HERE FOR MORE INFORMATION

/assets/img/crwe_info.png

CRWE Info ( CRWE.Info ) provides news and updates about Crown Equity Holdings Inc. and the CRWE World platform

www.crwe.info

/assets/images/ad/crwetube.png

Share your videos. Upload your videos for free on CRWETube

www.CRWETube.com

/assets/images/ad/ad4.png

 

Place Your Ad Here! Advertise your business online on CRWE WORLD. Your Company, product, or service in front of the world!

Contact Us: contact@crweworld.com

www.CRWEWorld.com

CRWE WORLD Advertising Services RateJoin CRWE WORLD Affiliate Program