On March 7, 2024, before the market opened, CI&T issued a press release entitled “Restatement of Previously Issued Financial Statements.” The press release stated “(i) the Company’s audited consolidated financial statements as of and for the year ended December 31, 2022, included in its annual report on Form 20-F for the year ended December 31, 2022 filed with the United States Securities and Exchange Commission (“SEC”) on March 28, 2023, and (ii) the Company’s unaudited condensed consolidated interim financial statements as of and for the periods ended March 31, 2023, June 30, 2023 and September 30, 2023, each previously furnished to the SEC on a current report on Form 6-K, should no longer be relied upon (collectively, the “Non-Reliance Periods”).”

On this news, CI&T’s stock fell $0.48 per share, or 10.78%, to close at $3.97 per share on March 7, 2024.