LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Nuvei Corporation (“Nuvei” or “the Company”) (NASDAQ: NVEI) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Nuvei is the subject of a short-seller report published by Spruce Point Capital on December 8, 2021. The report alleges serious inaccuracies in the Company’s claims of organic growth. The report claims: “we find evidence that between 2010 and 2018, the Company experienced practically no growth. Our research points to challenges in the North American market that engendered mid-double-digit organic revenue decline in 2020 and Nuvei’s push into Europe via acquisitions such as SafeCharge (2019) and Smart2Pay (2020).” Among other allegations, Spruce Point Capital claims that the Company’s executives and other associated figures come from questionable backgrounds. Based on this report, shares of Nuvei fell almost 41% in morning trading on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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