dLocal Limited Wins Dismissal of New York Securities Lawsuit

Appellate court unanimously affirms lower court's decision to dismiss case against the cross-border payments company.

Apr. 20, 2026 at 12:38pm

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A photorealistic studio still life featuring a stack of polished metal coins, a sleek black credit card, and a minimalist geometric shape in brushed aluminum, all arranged elegantly on a clean, monochromatic background and dramatically lit to symbolize the abstract concepts of cross-border payments and financial infrastructure.A refined visual metaphor for dLocal's role in enabling global merchants to securely and efficiently access high-growth emerging markets.NYC Today

dLocal Limited, a leading cross-border financial infrastructure platform, announced that the Supreme Court of the State of New York, Appellate Division, First Department, has unanimously affirmed the dismissal of a putative class action lawsuit alleging the company's registration statement and prospectus contained misleading statements and omissions. The lower court had previously granted dLocal's motion to dismiss the complaint in its entirety, and the Appellate Division has now upheld that decision, finding the plaintiffs' claims lacked merit.

Why it matters

This legal victory is an important milestone for dLocal, a fast-growing fintech company that connects global merchants to emerging markets. The dismissal of the securities lawsuit validates the company's disclosures and growth trajectory, allowing it to remain focused on executing its strategy rather than being distracted by unfounded allegations.

The details

The lawsuit, filed in New York state court, had alleged that dLocal's registration statement and prospectus contained materially misleading statements and omissions relating to the company's take rate trends. However, the Appellate Division rejected these claims, finding that the plaintiffs failed to identify any known material trends, especially in light of dLocal's consistent growth in total payment volume (TPV), revenue, and gross profit.

  • On April 20, 2026, the Supreme Court of the State of New York, Appellate Division, First Department, unanimously affirmed the dismissal of the putative class action lawsuit against dLocal.
  • In 2023, the lower court had previously granted dLocal's motion to dismiss the complaint in its entirety.

The players

dLocal Limited

A leading cross-border financial infrastructure platform connecting global merchants to emerging markets.

Pedro Arnt

Chief Executive Officer of dLocal.

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What they’re saying

“We are pleased that the Appellate Division unanimously affirmed the complete dismissal of this case in a decision that recognizes the strength of the Company's disclosures, the growth of our total payment volume, revenue and gross profit in the pre-IPO period, and the merits of our position.”

— Pedro Arnt, Chief Executive Officer

What’s next

With this legal matter resolved, dLocal can continue to focus on executing its strategy and delivering value to its merchants, shareholders, and the communities it serves across emerging markets.

The takeaway

This case highlights the importance of transparent and accurate disclosures for fast-growing fintech companies navigating the public markets. dLocal's legal victory reinforces the strength of its business model and growth trajectory, allowing it to maintain its momentum in connecting global merchants to high-potential emerging economies.