Overview

A class action lawsuit has been filed against Joint Stock Company Kaspi.kz (“Kaspi.kz” or the “Company”) (NASDAQ: KSPI) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The Kaspi.kz class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Kaspi.kz securities between January 19, 2024, and September 19, 2024, both dates inclusive (the “Class Period”).  Investors have until February 18, 2025, to seek appointment as lead plaintiff in the Kaspi.kz class action lawsuit.

Kaspi.kz has a subsidiary called Kaspi Bank, which it has described as one of the largest and systematically important financial institutions in Kazakhstan.  Further, Kaspi.kz works in financial services by providing digital applications to users which can be used for purposes such as making purchases and transferring money.  Further, the Company runs a marketplace where customers can purchase products from various merchants.  The Company has stated that they have launched, and continue to develop, mobile, online, and Kaspi QR technology to enable a seamless online and in-store shopping experience for its customers.  The Company is incorporated in Kazakhstan.

The Kaspi.kz class action lawsuit alleges that Defendants, throughout the Class Period, made false and/or misleading statements and/or failed to disclose that: 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 Company engaged in undisclosed related party transactions; certain of the Company’s executives have links to reputed criminals; and as a result, Defendants’ statements about Joint Stock Company Kaspi.kz’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Kaspi.kz securities between January 19, 2024, and September 19, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the Kaspi.kz class action lawsuit is February 18, 2025.