QIWI Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against Qiwi plc (NASDAQ: QIWI); Lead Plaintiff Deadline is February 9, 2021
PHILADELPHIA, Jan. 7, 2021 – Berger Montague is investigating potential securities fraud claims against Qiwi plc (“Qiwi” or the “Company”) on behalf of investors who purchased Qiwi securities, including American Depositary Shares (“ADSs”), (NASDAQ: QIWI) between March 28, 2019 and December 9, 2020 (the “Class Period”).
If you purchased Qiwi securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague’s investigation, please contact attorneys Andrew Abramowitz at email@example.com or (215) 875-3015, or Donnell Much at firstname.lastname@example.org or (215) 875-4667, or contact us at www.bergermontague.com/qiwi.
Qiwi is a Cyprus-based operator of online payment systems. According to a recently filed lawsuit, throughout the Class Period, the Company and its senior management misled investors about the fact that Qiwi’s internal controls over reporting and record-keeping were ineffective, and that these failures subjected the Company to regulatory action.
The complaint alleges that investors learned the true state of Qiwi’s internal controls on December 9, 2020, when the Company reported in a filing with the Securities and Exchange Commission that the Central Bank of Russia had imposed a fine of approximately $150,000 for deficient record-keeping and reporting. Moreover, the Central Bank of Russia suspended the Company’s ability to conduct most types of payments to foreign merchants and money transfers to pre-paid cards from corporate accounts. On this news, the price of Qiwi’s ADSs fell 20%, from a closing price of $13.59 per share on December 9, 2020 to $10.79 per share on December 10, 2020.
If you purchased Qiwi securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is February 9, 2021. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding Qiwi are encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout the United States.