Qiwi PLC

Company NameQiwi plc
Stock SymbolQIWI
Class PeriodMarch 28, 2019 to December 9, 2020
Motion DeadlineFebruary 9, 2021

The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of Qiwi plc (NASDAQ: QIWI). Investors who purchased QIWI stock or other securities between March 28, 2019 and December 9, 2020 may contact the Thornton Law Firm to obtain a copy of the complaint or to discuss the lead plaintiff process. Interested investors are encouraged to submit their information above. Investors may email investors@tenlaw.com or call 617-531-3917. Interested Qiwi investors have until February 9, 2021 to apply to be a lead plaintiff

The case alleges that that Qiwi and its senior executives made misleading statements to investors and failed to disclose that: (1) Qiwi’s internal controls related to reporting and record-keeping were ineffective; and (2) consequently, the Central Bank of Russia would impose a monetary fine upon Qiwi and impose restrictions upon Qiwi’s ability to make payments to foreign merchants and transfer money to pre-paid cards. When the truth was revealed to the public, Qiwi’s ADS price fell, thereby damaging investors.

The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing the class action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested Qiwi investors have until February 9, 2021 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.

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.

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