DLocal (NASDAQ: DLO) securities class action in New York fully dismissed on appeal
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
DLocal Limited reports a legal win in New York, where the Appellate Division of the Supreme Court of the State of New York unanimously affirmed the dismissal of a securities class action known as In the Matter of DLocal Securities Litigation.
The case had alleged that DLocal’s registration statement and prospectus were misleading about trends in its take rate, but the appellate court agreed with the lower court that all claims against the company and individual defendants lacked merit. Management highlights that the decision recognizes the strength of DLocal’s disclosures and its pre-IPO growth in total payment volume, revenue, and gross profit, and states that the company remains focused on executing its strategy rather than on litigation distractions.
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Insights
New York securities class action against DLocal is fully dismissed on appeal.
The Appellate Division in New York unanimously upheld a prior decision dismissing all claims in a state securities class action against DLocal and its individual defendants. The court found the claims lacked merit, particularly allegations about misleading disclosure of take-rate trends.
This outcome removes one strand of disclosed litigation risk tied to DLocal’s IPO disclosure documents. The decision notes consistent growth in total payment volume, revenue, and gross profit in the pre-IPO period, which the court viewed as undercutting the alleged omission of a known adverse trend.
While financial impact is not quantified here, the resolution of this putative class action simplifies the company’s legal backdrop. Future company filings may clarify whether any related proceedings remain outstanding or if this closes a broader set of claims around the same issues.
Key Terms
putative class action, registration statement, prospectus, total payment volume (TPV), +1 more
5 terms
putative class action regulatory
"has unanimously affirmed the dismissal of the putative class action lawsuit captioned"
A putative class action is a lawsuit brought on behalf of a group of people who allege similar harm, filed before a court has formally approved that group as a legal 'class.' For investors it matters because, if the court later certifies the class, the company could face consolidated claims, larger damages and greater legal and reputational risk—like one small alarm that may turn into a building-wide evacuation if authorities confirm a shared problem.
registration statement regulatory
"alleged that the Company's registration statement and prospectus contained materially misleading statements"
A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.
prospectus regulatory
"registration statement and prospectus contained materially misleading statements and omissions"
A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.
total payment volume (TPV) financial
"consistent growth in total payment volume (TPV), revenue, and gross profit"
forward-looking statements regulatory
"This press release contains certain forward-looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2026
Commission File Number: 001-40451
DLocal Limited
(Exact name of registrant as specified in its charter)
PO Box 1093, Boundary Hall,
Cricket Square, Grand Cayman
KY1-1102
Cayman Islands
Cayman Islands
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
TABLE OF CONTENTS
EXHIBIT
| 99.1 | Press release dated April 20, 2026 - dLocal Limited Announces Dismissal of New York State Securities Class Action | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
DLocal Limited | ||||||||
By: | /s/ Pedro Arnt | |||||||
Name: | Pedro Arnt | |||||||
Title: | Chief Executive Officer | |||||||
Date: April 20, 2026
Exhibit 99.1
dLocal Limited
Announces Dismissal of New York State Securities Class Action
MONTEVIDEO, Uruguay, April 20, 2026 (GLOBE NEWSWIRE) -- DLocal Limited (NASDAQ: DLO, “dLocal” or the “Company”), a leading cross-border financial infrastructure platform connecting global merchants to emerging markets, today announced that the Supreme Court of the State of New York, Appellate Division, First Department, has unanimously affirmed the dismissal of the putative class action lawsuit captioned In the Matter of DLocal Securities Litigation, Index No. 151778/23 (the “New York State Action”). The Supreme Court, New York County had previously granted the defendants’ motion to dismiss the complaint in its entirety, and the Appellate Division has now unanimously upheld that decision.
In its unanimous decision, the Appellate Division held that all claims against the Company and the individual defendants lacked merit.
The New York State Action had alleged that the Company's registration statement and prospectus contained materially misleading statements and omissions relating to alleged trends in the Company's take rate. The Court rejected these allegations, finding that the plaintiffs did not identify a known material trend, especially in light of the Company's consistent growth in total payment volume (TPV), revenue, and gross profit.
Pedro Arnt, Chief Executive Officer of dLocal, stated: “We are pleased that the Appellate Division unanimously affirmed the complete dismissal of this case in a decision that recognizes the strength of the Company’s disclosures, the growth of our total payment volume, revenue and gross profit in the pre-IPO period, and the merits of our position. As always, we remain focused on executing our strategy and delivering value to our merchants, shareholders, and the communities we serve across emerging markets; not on the distractions generated by inaccurate allegations”.
About dLocal
dLocal builds financial infrastructure for markets of the future, connecting global enterprises with local payment cultures across high-growth markets in Africa, Asia, the Middle East, and Latin America. Through the "One dLocal" concept (one direct API, one platform, and one contract), global companies can accept payments, send payouts, and settle funds globally without the need to manage multiple local entities and integrations. For more information, visit www.dlocal.com.
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 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,” and “Cautionary Note 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
What did DLocal Limited (DLO) announce in its latest update?
DLocal announced that a New York appellate court unanimously affirmed dismissal of a securities class action against the company. The court upheld an earlier ruling that all claims lacked merit, effectively ending this particular putative class action over DLocal’s IPO-related disclosures.
Which lawsuit against DLocal Limited (DLO) was dismissed?
The dismissed case is the putative securities class action titled "In the Matter of DLocal Securities Litigation," Index No. 151778/23, in New York State court. Both the trial court and the Appellate Division dismissed all claims against DLocal and individual defendants as lacking merit.
What were the main allegations in the New York State action against DLocal (DLO)?
Plaintiffs had alleged that DLocal’s registration statement and prospectus contained materially misleading statements and omissions about supposed trends in the company’s take rate. The appellate court rejected these allegations, finding plaintiffs failed to identify any known material trend supporting their theory.
How did the New York appellate court view DLocal’s financial performance evidence?
The Appellate Division noted DLocal’s consistent growth in total payment volume, revenue, and gross profit in the pre-IPO period. This record of growth was cited in rejecting plaintiffs’ attempt to show a known negative trend was omitted from the company’s IPO disclosures.
What was DLocal’s management reaction to the lawsuit dismissal?
CEO Pedro Arnt said the company was pleased with the unanimous affirmance, emphasizing that the decision recognizes the strength of DLocal’s disclosures and its growth before the IPO. He added that DLocal remains focused on executing strategy and delivering value rather than on inaccurate litigation allegations.
Does this DLocal (DLO) update include any forward-looking statements?
Yes. The company notes that the press release contains forward-looking statements reflecting current expectations. It warns that actual results may differ due to risks and uncertainties described in DLocal’s SEC filings, and states it has no obligation to update such statements unless required by law.