Nel ASA
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Based in Norway
Company profile

Nel ASA, formerly Diagenic ASA, is a Norway-based company that is engaged in the renewable energy equipment and services sector. The Company delivers solutions to produce, store and distribute hydrogen from renewable energy. Nel ASA serves industries, energy and gas companies with hydrogen technology. The Company’s hydrogen solutions cover the entire value chain from hydrogen production technologies to manufacturing of hydrogen fueling stations, providing fuel cell electric vehicles with the same fueling and long range as conventional vehicles. The Company’s subsidiaries are: H2 Logic A/S in Denmark; Hyme AS, Nel Fuel AS, New Nel Hydrogen Holding AS and RotoBoost H2 AS in Norway, as well as Proton Energy Systems Inc based in the United States.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

ADR fees charged by custodial banks normally average from 1 to 3 cents per share. Other country fees might apply. To read more, see the Exception Fees tab at Brokerage Fees

Closing Price
$39.51
Day's Change
0.00 (0.00%)
Bid
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Ask
--
B/A Size
--
Day's High
--
Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
454
0

STONECO ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against StoneCo Ltd. and Encourages Investors to Contact the Firm

5:00 am ET November 29, 2021 (Globe Newswire) Print

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against StoneCo Ltd. ("StoneCo" or the "Company") (NASDAQ: STNE) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired StoneCo securities between May 11, 2021 and November 16, 2021, both dates inclusive (the "Class Period"). Investors have until January 18, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

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 decrease in revenue "mainly due to adjustments in credit fair value and significantly lower credit disbursements." The Company stated that it had "implemented some prudent actions, like temporarily stopping the disbursement of credit and increasing coverage for potential future losses, which impacted [StoneCo's] reported results for the quarter."

On this news, the Company's share price fell $2.96, to close at $46.54 per share on August 31, 2021, on unusually heavy trading volume.

Then, on October 26, 2021, PAX Global Technology Ltd's Florida offices were raided by the U.S. Federal Bureau of Investigation, the Department of Homeland Security, and several other agencies as part of a federal investigation. As a Viceroy Research report on October 27, 2021 pointed out, Stone states that PAX "is no longer [its] sole provider of POS services, [but the Company is] still substantially dependent on it to manufacture and assemble a substantial amount of [its] POS devices." Moreover, another company replaced its PAX terminals "because it did not receive satisfactory answers from PAX regarding its POS devices connecting to websites not listed in their supplied documentation."

On this news, the Company's share price fell $2.64, or 7%, to close at $33.81 per share on October 27, 2021, thereby injuring investors further.

Then, on November 16, 2021, StoneCo announced that it would "start retesting our original [credit] product, which is short-term loans, between the fourth quarter of '21 and the first quarter of '22." The Company could not provide specific guidance about when credit volumes would return to levels before StoneCo had halted origination of credit.

On this news, the Company's share price fell $10.96, or 34%, to close at $20.70 per share on November 17, 2021, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that StoneCo was experiencing difficulties in implementing its credit product; (2) that StoneCo faced significant risks via its point-of-sale vendor, PAX Global Technology Ltd.; (3) that, as a result of the foregoing, the Company's financial results would be adversely impacted; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired StoneCo shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Alexandra B. Raymond, Esq.

(212) 355-4648

investigations@bespc.com

www.bespc.com

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