NEW YORK, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against DLocal Ltd (NASDAQ: DLO), Credit Acceptance Corporation (NASDAQ: CACC), The Goldman Sachs Group, Inc. (NYSE: GS), and RH (NYSE: RH). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
DLocal Ltd (NASDAQ: DLO)
On November 16, 2022, Muddy Waters Capital LLC (“Muddy Waters”) published a research report concluding that DLocal “is likely a fraud.” Muddy Waters alleges that DLocal has repeated disclosures about its Total Processing Volume and accounts receivable “that flatly contradict one another” and that there is “a contradictory discrepancy between two key subsidiaries’ accounts payable and accounts receivable.” Muddy Waters also alleges that DLocal engaged in multiple misrepresentations to disguise the timing and the source of funding for an insider option exercise.
On this news, DLocal’s share price fell $10.76, or more than 50%, to close at $10.46 per share on November 16, 2022, thereby injuring investors.
For more information on the DLocal investigation go to: https://bespc.com/cases/DLO
Credit Acceptance Corporation (NASDAQ: CACC)
On January 4, 2023, information was released regarding the U.S. Consumer Financial Protection Bureau and the New York State Office of the Attorney General filing a joint lawsuit against the company. The CFPB stated Credit Acceptance violated New York usury laws on interest-rate limits and other consumers and investor-protection laws.
New York's attorney general seeks to stop Credit Acceptance’s abusive and misleading practices, reform or rescind existing loan agreements, provide compensation to impacted New Yorkers, and secure penalties and damages due to this unacceptable and illegal behavior.
Following this news, on January 4, 2023, the company’s shares closed down 11.61%.
For more information on the Credit Acceptance investigation go to: https://bespc.com/cases/CACC
The Goldman Sachs Group, Inc. (NYSE: GS)
On January 20, 2023, during trading hours, The Wall Street Journal published an article entitled “U.S. Fed probes Goldman Sachs consumer business.” The article stated that “The U.S. Federal Reserve is probing whether Goldman Sachs Group Inc's consumer business had appropriate safeguards in place as the bank ramped up lending.” Further, the article stated that “The central bank is concerned the Wall Street giant did not have proper monitoring and control systems inside Marcus, its consumer unit, as it grew larger.” The article added that “The probe, which grew out of a standard Fed review of the business in 2021 and intensified into an investigation last year, is also examining instances of customer harm and whether they were properly resolved.”
On this news, Goldman Sachs’s price fell $8.91, or 2.54%, to close at $341.84 on January 20, 2023.
For more information on the Goldman Sachs investigation go to: https://bespc.com/cases/GS
RH (NYSE: RH)
On February 6, 2023, RH announced that it expects 2022 revenue growth at the lower end of the prior range of (3.5%) to (4.5%). RH also disclosed that its annual report for the fiscal year ended January 29, 2022 and quarterly report for the fiscal quarter ended October 29, 2022 contained errors in the calculation of net income per share, and that the Company's financial statements for each of the quarterly periods ended April 30, July 30, and October 29, 2022 should no longer be relied upon.
On this news, the Company's stock price fell $25.19 per share or 7.33% percent, to close at $318.43 per share on February 6, 2023.
For more information on the RH investigation go to: https://bespc.com/cases/RH
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.