LOS ANGELES, Jan. 28, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Qiwi PLC QIWI investors that acquired shares between March 28, 2019 and December 9, 2020. Investors have until February 9, 2021 to seek an active role in this litigation.
Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.
It is alleged in this complaint that Qiwi made misleading and/or false statements and/or failed to disclose that Qiwi's internal controls pertaining to record-keeping and reporting were ineffective, and that, consequently, a monetary fine upon the Qiwi would be imposed by the Central Bank of Russia and restrictions would be imposed upon its ability to make payments to foreign merchants and transfer money to pre-paid cards.
After the market closed on December 9, 2020, Qiwi filed a Form 6-K with the SEC, announcing that a fine of approximately $150,000 had been imposed by the Central Bank of Russia for deficient record-keeping and reporting, and Qiwi had been suspended conducting most types of payments to foreign merchants and money transfers to pre-paid cards from corporate accounts.
On December 10, 2020, the price of Qiwi ADS fell $2.80 per share on this news, or 20.6%, to close at $10.79 per share.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 9, 2021.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm's founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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