|Company Name||StoneCo Ltd.|
|Class Period||March 11, 2021 to November 16, 2021|
|Motion Deadline||January 18, 2022|
The Thornton Law Firm alerts investors that a class action lawsuit has been filed on behalf of investors of StoneCo Ltd. (NASDAQ: STNE). The case is currently in the lead plaintiff stage. Investors who purchased STNE securities between March 11, 2021 and November 16, 2021 may contact the Thornton Law Firm’s investor protection team by submitting their information above. Investors may also email firstname.lastname@example.org or call 617-531-3917.
The case alleges that StoneCo and its senior executives made misleading statements to investors and failed to disclose that: (i) StoneCo was experiencing difficulties in implementing its credit product; (ii) StoneCo faced significant risks via its point-of-sale vendor, PAX Global Technology Ltd.; and (iii) as a result of the foregoing, StoneCo’s financial results would be adversely impacted. The lawsuit alleges that after a series of disclosures StoneCo’s stock price dropped $2.96 per share on August 31, 2021, $2.64 per share on October 27, 2021, and $10.96 per share on November 17, 2021.
Interested StoneCo investors have until January 18, 2022 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
A class action lawsuit has been filed on behalf of investors in StoneCo Ltd. (STNE) securities.
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