SHAREHOLDER ALERT: Law firm Pomerantz is investigating claims on behalf of StoneCo investors. SA – STNE | national news

NEW YORK, December 2, 2021 / PRNewswire / – Pomerantz LLP is investigating claims on behalf of StoneCo investors. Ltd. (“StoneCo.” Or the “Company”) (NASDAQ: STNE). These investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation is focused on whether StoneCo. and some of its officers and / or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

At August 30, 2021, after the market closed, Stone announced its second quarter 2021 financial results in a press release, reporting an 8.1% decline in year-over-year revenue “primarily due to significantly lower credit fair value adjustments and disbursements. The company said it had “implemented prudent measures, such as temporarily halting credit disbursement and increasing coverage of potential future losses, which had an impact on [Stone’s] released the results for the quarter. ”

On this news, Stone’s share price fell $ 2.96 per share, or 6%, to close at $ 46.54 per share on August 31, 2021, detrimental to investors.

Then on October 26, 2021, PAX Global Technology Ltd (“PAX”) Florida The offices were raided by the United States Federal Bureau of Investigation, the Department of Homeland Security and several other agencies as part of a federal investigation. According to a October 27, 2021 report by market analyst Viceroy Research, Stone says PAX “is no longer [its] single point of sale supplier [point of sale] services, [but the Company is] still largely dependent on it to manufacture and assemble a substantial amount of [its] Point-of-sale devices. “Additionally, another company replaced its PAX terminals” because it did not receive satisfactory responses from PAX regarding its point-of-sale devices connecting to websites not listed in the documentation provided. ”

On this news, Stone’s share price fell $ 2.64 per share, or 7%, to close at $ 33.81 per share on October 27, 2021

The Pomerantz firm, with offices in new York, Chicago, Los Angeles, and Paris is recognized as one of the leading firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class actions bar, Pomerantz was a pioneer in the field of class actions in securities. Today, more than 80 years later, Pomerantz continues the tradition it established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomerantzlaw.com

CONTACT:

Robert S. Willoughby

Pomerantz srl

[email protected]

888-476-6529 ext 7980

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SOURCE Pomerantz LLP


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