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Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Continues Investigation of DLocal Limited (DLO) on Behalf of InvestorsGlancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, continues its investigation on behalf of DLocal Limited ("DLocal" or the "Company") (NASDAQ: DLO) investors concerning the Company's possible violations of the federal securities laws. If you suffered a loss on your DLocal investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/dlocal-limited/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights. On November 16, 2022, Muddy Waters Capital LLC ("Muddy Waters") published a research report concluding that DLocal "is likely a fraud." Muddy Waters alleges that DLocal has repeated disclosures about its Total Processing Volume and accounts receivable "that flatly contradict one another" and that there is "a contradictory discrepancy between two key subsidiaries' accounts payable and accounts receivable." Muddy Waters also alleges that DLocal engaged in multiple misrepresentations to disguise the timing and the source of funding for an insier option exercise. On this news, DLocal's share price fell $10.76, or more than 50%, to close at $10.46 per share on November 16, 2022, thereby injuring investors. Then, on December 1, 2022, Muddy Waters published another report stating that DLocal has held calls with clients from several banks, stressing that it had separated client funds from its own. The report also said that DLocal's calls with clients were "non-specific" and "sweet-talking," and that "all [the Company] needed to do to address this issue was provide an explanation as to how the cash flows reconcile." On this news, DLocal's share price fell $2.21, or 15.1%, to close at $12.39 per share on December 1, 2022. Follow us for updates on LinkedIn, Twitter, or Facebook. Whistleblower Notice: Persons with non-public information regarding DLocal should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].
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