Deadline Reminder: Regulation Places of work of Howard G. Smith Reminds Buyers of Looming Deadline in the Class Motion Lawsuit Towards Qiwi Plc (QIWI) – Press Launch

BENSALEM, Pa.–(Small business Wire)–Law Places of work of Howard G. Smith reminds traders of the impending February 9, 2021 deadline to file a guide plaintiff motion in the case submitted on behalf of traders who bought Qiwi Plc (“Qiwi” or the “Company”) (NASDAQ: QIWI) securities in between March 28, 2019 and December 9, 2020, inclusive (the “Class Period”).

Traders suffering losses on their Qiwi investments are encouraged to speak to the Legislation Workplaces of Howard G. Smith to explore their lawful legal rights in this class motion at 888-638-4847 or by electronic mail to [email protected].

On December 10, 2020, the Company issued a push release entitled “QIWI (QIWI) Fined by Financial institution of Russia, Restricts Functions.” Therein, Qiwi mentioned that “[f]rom July to December 2020, the Central Financial institution of Russia (‘CBR’), acting in its supervisory capability, performed a plan scheduled audit of Qiwi Lender JSC (‘Qiwi Bank’) for the time period of July 2018 to September 2020 and, in the program of this audit, has identified sure violations and deficiencies relating primarily to reporting and report-maintaining needs.” The Corporation was fined RUB 11 million, or somewhere around USD 150,000. The release also mentioned that “the CBR launched certain restrictions with respect to Qiwi Bank’s functions, which include, productive from December 7, 2020, the suspension or limitation of most kinds of payments to overseas retailers and dollars transfers to pre-compensated playing cards from company accounts.”

On this information, the Company’s ADR selling price fell $2.80 for each share, or 20%, to near at $10.79 per share on December 10, 2020, thereby injuring traders.

The complaint filed in this course action alleges that in the course of the Course Period, Defendants manufactured materially bogus and/or misleading statements, as properly as failed to disclose substance adverse facts about the Company’s company, functions, and potential clients. Specifically, Defendants unsuccessful to disclose to investors that: (1) Qiwi’s internal controls linked to reporting and record-retaining were ineffective (2) consequently, the Central Lender of Russia would impose a financial high-quality upon the Business and impose restrictions upon the Company’s potential to make payments to overseas merchants and transfer cash to pre-paid out cards and (3) as a consequence, Defendants’ constructive statements about the Company’s company, operations, and prospective customers have been materially misleading and/or lacked a realistic basis at all relevant periods.

If you obtained or normally obtained Qiwi securities through the Course Interval, you might shift the Courtroom no later than February 9, 2021 to inquire the Courtroom to appoint you as guide plaintiff if you meet selected authorized necessities. To be a member of the class motion you will need not acquire any action at this time you might retain counsel of your alternative or acquire no motion and continue being an absent member of the course motion. If you would like to understand far more about this class action, or if you have any queries about this announcement or your rights or interests with regard to these issues, you should contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by phone at (215) 638-4847, toll-free at (888) 638-4847, or by e-mail to [email protected], or pay a visit to our web-site at www.howardsmithlaw.com.

This push release could be considered Lawyer Promotion in some jurisdictions underneath the relevant legislation and moral regulations.

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Regulation Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

[email protected]

www.howardsmithlaw.com