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NVEI.US
id: 259
In a report from Spruce Point Capital Managment, dated on the 8th of December, 2021, there were claims that Nuvei Corporation have neglected the real growth data and published another false data to the public.
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.”
Following this news, the price of Nuvei shares was down over 37% in early morning trading on December 8, 2021, and hurting investors.
Alleged Offence
Mismanagement
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08 December 2021
Collecting participants…

Nuvei Corp

Nuvei Corporation provides payment technology solutions to merchants and partners in North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific. Its platform enables cus...

    Ticker
    NVEI.US
    ISIN
    CA67079A1021
    CIK
    1765159
    Sector
    Technology
    Industry
    Software - Infrastructure
    Country
    USA
    Address
    1100 René-Lévesque Boulevard West, Montreal, QC, Canada, H3B 4N4