The Law Offices of Frank R. Cruz Announces Investigation of StoneCo Ltd (STNE) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--Aug 30, 2021--
The Law Offices of Frank R. Cruz announces an investigation of StoneCo Ltd (“Stone” or the “Company”) (NASDAQ: STNE ) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On August 30, 2021, after the market closed, Stone announced its second quarter 2021 financial results in a press release, reporting an 8.1% year-over-year decrease in revenue “mainly due to adjustments in credit fair value and significantly lower credit disbursements.” The Company stated that it had “implemented some prudent actions, like temporarily stopping the disbursement of credit and increasing coverage for potential future losses, which impacted [Stone’s] reported results for the quarter.”
On this news, the Company’s share price fell sharply during afterhours trading on August 30, 2021.
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If you purchased Stone securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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CONTACT: The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: The Law Offices of Frank R. Cruz
Copyright Business Wire 2021.
PUB: 08/30/2021 08:30 PM/DISC: 08/30/2021 08:32 PM