NEW YORK, Jan. 13, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Credit Acceptance Corporation (NASDAQ: CACC ) and UP Fintech Holding Limited (NASDAQ : TIGR ) . Our investigations concern whether these companies have violated federal securities laws and/or engaged in other illegal business practices. Further information on each case can be found at the link.
Credit Acceptance Corporation (NASDAQ: CACC )
On January 4, 2023, information was released that the US Consumer Financial Protection Bureau and the New York State Office of the Attorney General filed a joint lawsuit against the company. The CFPB stated that the credit acceptance violated New York’s usury laws on interest rate limits and other consumer and investor protection laws.
The New York Attorney General is seeking to stop Credit Acceptance’s abusive and deceptive practices, reform or void existing loan agreements, provide compensation to affected New Yorkers, and secure penalties and damages for this unacceptable and illegal conduct.
Following this news, on January 4, 2023, the company’s shares closed down 11.61%.
For more information on the credit approval investigation, go to: https://bespc.com/cases/CACC
UP Fintech Holding Limited (NASDAQ: TIGR)
On December 30, 2022, the China Securities Regulatory Commission issued a statement that UP Fintech had been conducting cross-border securities trading without the commission’s approval for years. In particular, the China Securities Regulatory Commission stated that “[UP Fintech’s] action has constituted illegal operation of securities business in accordance with the Securities Act and related regulations[.]”
On this news, UP Fintech’s share price fell sharply on 30 December 2022.
For more information on the UP Fintech survey, go to:
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar outcomes.
Contact information:
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
www.bespc.com
