dLocal Refutes Short-Seller Allegations and Reconfirms Independent Investigations were Carried Out.
dLocal (DLO) has strongly refuted allegations made in a recent short-seller report, characterizing them as inaccurate and misleading. The company emphasized that previous similar allegations were thoroughly investigated through an independent review conducted by the Audit Committee, comprising solely independent directors, with support from independent counsel and a forensic accounting advisory firm. The review concluded that the prior short-seller allegations were unsubstantiated.
The company reaffirmed its commitment to high standards of corporate governance and financial integrity, advising investors to rely on its SEC-filed audited financial statements rather than short-seller reports. dLocal will discuss its FY24 and Q4'24 performance during its upcoming earnings call on February 27, 2025.
dLocal (DLO) ha fermamente smentito le accuse contenute in un recente rapporto di un venditore allo scoperto, definendole inaccurate e fuorvianti. L'azienda ha sottolineato che precedenti accuse simili sono state esaminate in modo approfondito attraverso una revisione indipendente condotta dal Comitato di Revisione, composto esclusivamente da direttori indipendenti, con il supporto di consulenti indipendenti e di una società di consulenza contabile forense. La revisione ha concluso che le precedenti accuse dei venditori allo scoperto non erano fondate.
L'azienda ha ribadito il proprio impegno per elevati standard di governance aziendale e integrità finanziaria, consigliando agli investitori di fare riferimento ai propri bilanci auditati depositati presso la SEC piuttosto che ai rapporti dei venditori allo scoperto. dLocal discuterà le sue performance per l'anno fiscale 2024 e il quarto trimestre 2024 durante la prossima call sugli utili del 27 febbraio 2025.
dLocal (DLO) ha refutado enérgicamente las acusaciones realizadas en un reciente informe de un vendedor en corto, caracterizándolas como inexactas y engañosas. La empresa enfatizó que acusaciones similares anteriores fueron investigadas a fondo a través de una revisión independiente llevada a cabo por el Comité de Auditoría, compuesto únicamente por directores independientes, con el apoyo de asesores independientes y una firma de asesoría contable forense. La revisión concluyó que las acusaciones anteriores de los vendedores en corto no estaban fundamentadas.
La empresa reafirmó su compromiso con altos estándares de gobernanza corporativa e integridad financiera, aconsejando a los inversores que confíen en sus estados financieros auditados presentados ante la SEC en lugar de los informes de los vendedores en corto. dLocal discutirá su desempeño del FY24 y Q4'24 durante su próxima llamada de ganancias el 27 de febrero de 2025.
dLocal (DLO)는 최근 공매도 보고서에서 제기된 주장들을 강력히 반박하며, 이를 부정확하고 오해의 소지가 있다고 설명했습니다. 이 회사는 이전의 유사한 주장들이 독립적인 감사위원회에 의해 철저히 조사되었음을 강조했으며, 감사위원회는 전적으로 독립적인 이사들로 구성되어 있고, 독립적인 법률 자문과 포렌식 회계 자문 회사의 지원을 받았습니다. 이 조사는 이전의 공매도 주장들이 근거가 없다는 결론을 내렸습니다.
회사는 높은 수준의 기업 지배구조와 재무 무결성에 대한 의지를 재확인하며, 투자자들에게 공매도 보고서보다 SEC에 제출된 감사 재무제표를 신뢰할 것을 권장했습니다. dLocal은 2025년 2월 27일에 예정된 실적 발표 전화 회의에서 FY24 및 Q4'24 성과를 논의할 것입니다.
dLocal (DLO) a fermement réfuté les allégations formulées dans un récent rapport d'un vendeur à découvert, les qualifiant d'inexactes et trompeuses. L'entreprise a souligné que des allégations similaires antérieures avaient été examinées en profondeur par le biais d'un examen indépendant mené par le Comité d'Audit, composé uniquement de directeurs indépendants, avec le soutien de conseillers indépendants et d'une société de conseil en comptabilité judiciaire. L'examen a conclu que les allégations précédentes des vendeurs à découvert étaient non fondées.
L'entreprise a réaffirmé son engagement envers des normes élevées de gouvernance d'entreprise et d'intégrité financière, conseillant aux investisseurs de se fier à ses états financiers audités déposés auprès de la SEC plutôt qu'aux rapports des vendeurs à découvert. dLocal discutera de ses performances pour l'exercice 2024 et le quatrième trimestre 2024 lors de sa prochaine conférence téléphonique sur les résultats le 27 février 2025.
dLocal (DLO) hat die in einem aktuellen Bericht eines Leerverkäufers erhobenen Vorwürfe entschieden zurückgewiesen und als ungenau und irreführend bezeichnet. Das Unternehmen betonte, dass frühere ähnliche Vorwürfe gründlich durch eine unabhängige Überprüfung des Prüfungsausschusses untersucht wurden, der ausschließlich aus unabhängigen Direktoren besteht und von unabhängigen Beratern sowie einer forensischen Buchhaltungsberatung unterstützt wurde. Die Überprüfung kam zu dem Schluss, dass die früheren Vorwürfe des Leerverkäufers unbegründet waren.
Das Unternehmen bekräftigte sein Engagement für hohe Standards in der Unternehmensführung und finanziellen Integrität und riet den Investoren, sich auf die von der SEC eingereichten geprüften Finanzberichte zu verlassen, anstatt auf Berichte von Leerverkäufern. dLocal wird seine Leistung für das Geschäftsjahr 2024 und das vierte Quartal 2024 während der bevorstehenden Gewinnbesprechung am 27. Februar 2025 erörtern.
- Independent investigation by Audit Committee found no substance to previous short-seller allegations
- Company maintains strong corporate governance and compliance standards
- Company faces renewed short-seller allegations potentially affecting stock price stability
- Ongoing market skepticism could impact investor confidence
Insights
The latest short-seller challenge to dLocal's business practices represents a significant corporate governance event that demands careful scrutiny. The company's robust defense rests on three important pillars: independent director oversight, external forensic accounting expertise, and previously completed investigations that found no substance to similar allegations.
Several key elements deserve particular attention: First, the audit committee's composition of solely independent directors adds substantial credibility to their oversight of the investigation process. Second, the engagement of both independent counsel and a global forensic accounting firm suggests a comprehensive approach to addressing these concerns. Third, the timing of this response, just days before the February 27 earnings call, indicates a strategic move to address market concerns before presenting financial results.
The company's emphasis on SEC-filed audited financials as the primary source of truth serves dual purposes: it reinforces their commitment to regulatory compliance while implicitly challenging the credibility of short-seller reports. This stance is particularly relevant for emerging market payment companies, which often face heightened scrutiny due to their complex cross-border operations and regulatory environments.
The upcoming earnings call on February 27 takes on heightened significance as it will provide management an opportunity to address these allegations with concrete financial data and operational metrics. Investors should focus on several key areas during this presentation:
- Detailed explanations of any questioned transactions or business relationships
- Updates on internal control mechanisms and compliance frameworks
- Clarity on cross-border payment flows and regulatory compliance
- Evidence of sustainable merchant relationships and transaction volumes
While the company's defense appears comprehensive, the repeated targeting by short-sellers suggests a need for enhanced transparency in certain operational areas. The effectiveness of their response will largely depend on their ability to provide concrete evidence during the upcoming earnings call that substantiates their position and reinforces investor confidence in their business model and financial reporting.
MONTEVIDEO, Uruguay, Feb. 20, 2025 (GLOBE NEWSWIRE) -- dLocal Limited (Nasdaq: DLO), a leading technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets deems the allegations made in a recent short-seller report to be inaccurate and misleading, and made by interested parties who profit from the Company’s stock price falling.
Any suggestion that the Company failed to properly investigate identical or similar allegations in the past is inaccurate. As the Company has stated publicly, it took prompt action to investigate the allegations raised by a prior short seller report. As previously disclosed, the Company’s Audit Committee, consisting solely of independent directors, oversaw an independent review of the allegations with the assistance of independent counsel and an independent global expert services and forensic accounting advisory firm. The Company has disclosed publicly that the review overseen by the Audit Committee concluded that the prior short-seller allegations were not substantiated.
dLocal remains committed to high standards of corporate governance, financial integrity, and regulatory compliance. It encourages investors to rely on its audited financial statements and disclosures filed with the SEC, rather than on self-serving and inaccurate reports from short-sellers with a clear financial incentive to cause short-term volatility in our stock price.
The Company has no further comment on these allegations and remains fully focused on executing its strategy and delivering value to its merchants, shareholders, partners, and employees. It looks forward to discussing its performance during FY24 and Q4’24, and outlook going forward during the next earnings call scheduled for February 27, 2025.
About dLocal
dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send pay-outs and settle funds globally without the need to manage separate pay-in and pay-out processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market.
Forward-looking statements
This press release contains certain forward-looking statements. These forward-looking statements convey dLocal’s current expectations or forecasts of future events. Forward-looking statements regarding dLocal are based on current management expectations and involve known and unknown risks, uncertainties and other factors that may cause dLocal’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors,” “Forward-Looking Statements” and “Cautionary Statement Regarding Forward-Looking Statements” sections of dLocal’s filings with the U.S. Securities and Exchange Commission. Unless required by law, dLocal undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof.
Investor Relations Contact:
investor@dlocal.com
Media Contact:
media@dlocal.com
FAQ
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