In April 2026, DLocal Limited announced that New York’s Appellate Division unanimously upheld the dismissal of a securities class action alleging misleading disclosures about its take rate trends. The court’s reasoning, which cited the plaintiffs’ failure to identify a material trend given DLocal’s reported TPV, revenue, and gross profit metrics, helps clarify how its past disclosures are viewed under securities law. We’ll now explore how the unanimous affirmation of this lawsuit’s...