NEW YORK, Feb. 11, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation into potential securities claims on behalf of DLocal Limited shareholders DLO based on allegations that dLocal may have disclosed materially misleading business information to the investing public.

SO WHAT: If you have purchased dLocal securities, you may be entitled to compensation without payment of expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=11762 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: On November 16, 2022, Muddy Waters Research (“Muddy Waters”) released a report titled “DLO: ‘History Never Repeats Itself, but it Does Of Rhyme'” which concluded that “DLO is likely a scam “, and stated that the company has repeatedly made disclosures about its TPV and claims that flatly contradict each other. There is also a conflicting discrepancy between the payables and receivables of two key subsidiaries. These sorts of seemingly innocuous misstatements are often indicative of fake books instead, because once you start manipulating them, keeping the numbers straight can get pretty tiring. In addition, the report states, “Management and directors have issued ~$1 billion of exceptional stock within the first five months that DLO has gone public. ‘”

As a result of this news, dLocal’s stock price fell $10.76 per share, or 50%, to close at $10.46 per share on November 16, 2022.

Then, on December 1st, 2022, Muddy Waters released a second report stating that dLocal stopped talking to customers from multiple…