The complaint, filed in the U.S. District Court for the Southern District of New York, targets CEO Kristo Käärmann and CFO Emmanuel Thomassin. Plaintiffs assert that both executives, who certified the company’s SEC filings, were aware of a longstanding anti-money laundering and counter-terrorist financing probe by the Brussels Public Prosecutor. The litigation claims these disclosures failed to account for active regulatory inquiries, leading to significant volatility in the company’s stock price.

Market data shows the company’s share price dropped 16.05% during the June 1–3, 2026, trading window and fell an additional 6.2% on July 24, 2026. Under Section 20(a) of the Securities Exchange Act of 1934, the suit seeks to hold the individual defendants personally accountable for the alleged failure to maintain proper internal compliance controls. Investors looking to participate in the recovery process are advised to secure brokerage documentation regarding their purchase dates and share quantities ahead of the court-mandated September 29 deadline.