Frank R. Cruz Law Firm Reminds Investors of Class Action Deadline Against StoneCo Ltd. (STNE) – QNT Press Release

Frank R. Cruz LLP Remind investors of upcoming January 18, 2022 Represented the purchase of StoneCo Ltd. (“StoneCo” or the “Company”) (NASDAQ: New Energy Network) between securities March 11, 2021 and November 16, 2021, inclusive (“during class”).

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On August 30, 2021, after the market closed, StoneCo announced its second quarter 2021 financial results in a press release, reporting an 8.1% year-over-year decline in revenue, “primarily due to credit fair value adjustments and significantly lower credit disbursements. The company said it had “taken some prudent actions, such as temporarily suspending credit and increasing coverage for potential future losses, which impacted the [StoneCo's] reported results for the quarter. ”

Affected by this news, on August 31, 2021, the company’s stock price fell by $2.96 to close at $46.54 per share, with unusually large trading volume.

Then, on October 26, 2021, as part of a federal investigation, the Florida offices of PAX Global Technology Ltd were raided by the FBI, DHS and several other agencies. As Governor…

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