LEADING ROSEN LAW FIRM Continues its Investigation of Securities Claims Against Qiwi plc – QIWI
LEADING ROSEN LAW FIRM Continues its Investigation of Securities Claims Against Qiwi plc – QIWI
NEW YORK, Dec. 11, 2020 — Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Qiwi plc (NASDAQ: QIWI) resulting from allegations that Qiwi may have issued materially misleading business information to the investing public.
On December 9, 2020, Qiwi issued a press release entitled “QIWI (QIWI) Fined by Bank of Russia, Restricts Operations.” The press release stated, in relevant part, that “[f]rom July to December 2020, the Central Bank of Russia (‘CBR’), acting in its supervisory capacity, performed a routine scheduled audit of Qiwi Bank JSC (‘Qiwi Bank’) for the period of July 2018 to September 2020 and, in the course of this audit, has identified certain violations and deficiencies relating primarily to reporting and record-keeping requirements. . . . The monetary fine imposed on Qiwi Bank as a result of these findings was RUB 11 million, or approximately USD 150,000.” Qiwi further disclosed that “as part of its instruction letter setting forth the findings of the audit, the CBR introduced certain restrictions with respect to Qiwi Bank’s operations, including, effective from December 7, 2020, the suspension or limitation of most types of payments to foreign merchants and money transfers to pre-paid cards from corporate accounts.”