NEW YORK, May 19, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against UP Fintech Holding Limited (NASDAQ: TIGR ), Shift4 Payments, Inc. (NYSE : FIRE ) , and TriplePoint Venture Growth BDC Corp. (NYSE: TPVG). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other illegal business practices. Further information on each case can be found at the link.
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:
Shift4 Payments, Inc. (NYSE: FOUR)
On April 19, 2023, Blue Orca Capital issued a report on Shift4 Payments, Inc., alleging that the company “engaged in a series of highly questionable and hyper-aggressive accounting maneuvers seemingly designed to keep the stock afloat, from cash flow manipulation to inexplicable distributor acquisitions that made it enables the company to capitalize an important component of COGS.”
The report also claims that “Shift4’s CFO abruptly left the company the day before the second quarter 2022 earnings call, amid a long line of correspondence with the SEC about the financial statements. The auditor warned of a material weakness in internal controls as early as the next quarter, just as it spent $256.4 million on a series of M&A that allowed it to capitalize a significant share of COGS.”
Shares of Shift4 Payments stock fell more than 12% in intraday trading on April 19, 2023.
For more information on the Shift4 survey go to:
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG)
The investigation focuses on whether the company has issued false and/or misleading statements and/or failed to disclose information relevant to investors. TriplePoint is the subject of a report issued by Bear Cave on May 2, 2023. According to the report, “TriplePoint is saddled with high fees, weak management and a weaker loan book bogged down by bankruptcies of portfolio companies and upside-down startups,” adding that ” Bear Cave believes that TriplePoint’s equity could be seriously impaired, if it has any value at all.”
On this news, shares of TriplePoint fell by almost 7.9% on the same day.
For more information on the TriplePoint 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
[email protected]
www.bespc.com
