Press release
Investigation for Investors in NASDAQ: NVEI shares over possible Wrongdoing at Nuvei Corporation announced.
An investigation on behalf of investors in Nuvei Corporation (NASDAQ: NVEI) shares over potential wrongdoing at Nuvei Corporation.
Investors who purchased shares of Nuvei Corporation (NASDAQ: NVEI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Nuvei Corporation directors breached their fiduciary duties and caused damage to the company and its shareholders.
Canadian based Nuvei Corporation provides payment technology solutions to merchants and partners in North America, Europe, the Asia Pacific, and Latin America. Nuvei Corporation reported that its annual Total Revenue rose from $245.81 million in 2019 to $375.04 million in 2020, and that its Net Loss increased increased from $69.46 million in 2019, to $103.67 million in 2020.
On December 8, 2021, Spruce Point Capital Management published a research report regarding Nuvei, alleging inaccuracies in the Company’s claims of growth. The report claims that Nuvei "has covered up a pattern of business failures, lack of organic growth, and a web of relationships with individuals connected to major Ponzi Schemes and alleged fraudulent activities." Furthermore, while Nuvei is reporting "remarkable financial success," Spruce Point asserts that the Company’s financial disclosures are "weak" and that "results are being temporarily enhanced from concentrated exposure to high risk gaming and eCommerce."
Shares of Nuvei Corporation (NASDAQ: NVEI) declined from $123.00 per share on November 09, 2021, to as low as $43.10 per share on December 08, 2021.
Those who purchased shares of Nuvei Corporation (NASDAQ: NVEI) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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