DLocal announces dismissal of New York State Securities Class Action

DLocal (DLO) announced that the Supreme Court of the State of New York, Appellate Division, First Department, has unanimously affirmed the dismissal of the putative class action lawsuit captioned In the Matter of DLocal Securities Litigation, Index No. 151778/23. The Supreme Court, New York County had previously granted the defendants’ motion to dismiss the complaint in its entirety, and the Appellate Division has now unanimously upheld that decision. In its unanimous decision, the Appellate Division held that all claims against the Company and the individual defendants lacked merit.