The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased StoneCo Ltd. (NASDAQ: STNE) securities between March 11, 2021 and November 16, 2021.
According to the StoneCo lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) StoneCo was experiencing difficulties in implementing its credit product; (2) StoneCo faced significant risks via its point-of-sale vendor, PAX Global Technology Ltd.; (3) as a result of the foregoing, the Company’s financial results would be adversely impacted; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in StoneCo you have until January 18, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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