NanduQ Beats Investor Fraud Lawsuit Over Russian Law Compliance

The Russian fintech company formerly known as Qiwi PLC defeated allegations it misled US investors over its regulatory compliance and recordkeeping before failing an audit in 2020.

The company leading the proposed investor class didn’t adequately allege any actionable misstatements or omissions by NanduQ PLC or executives around at that time, US District Court for the Eastern District of New York Judge Brian M. Cogan said in an order entered Monday. Allegations of intent or recklessness for securities fraud were largely recycled from investor Moset International Co.'s previously-dismissed complaint, Cogan said while ordering the case closed.

Cogan, who took ...