Muddy Waters ‘more convinced’ DLocal used client funds for dividend

In a follow-up to its original DLocal (DLO) short report on November 16, Carson Block’s Muddy Waters Research says it is "more convinced than before that DLO used client funds to pay a special dividend to its pre-IPO shareholders." The short selling firm explained, "Rather than provide a detailed written explanation of the various issues we believe are byproducts of fraud and misusing client funds, DLO is holding a series of calls with brokers and their clients during which it provides non-specific, non-substantive denials. DLO evidently cares about its stock price, given the time it invests in these calls. The failure to provide a written explanation that can be tested should be deemed an admission of guilt." Shares of DLocal are down 2% to $14.25 in premarket trading. Reference Link