LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announced today that it has commenced an investigation on behalf of UP Fintech Holding Limited (“UP Fintech” or the “Company”) (NASDAQ) : TIGR) investors regarding the company’s possible violations of the federal securities laws.
If you suffered a loss on your UP Fintech investments or wish to inquire about potential claims to recover your loss under the federal securities laws, please submit your contact information at www.glancylaw.com/cases/UP-Fintech-Holding- Limited -1/. You may also contact Charles H. Linehan, of GPM at 310-201-9150, toll-free at 888-773-9224, or by email at [email protected] to learn more about your rights.
30 December 2022, The Wall Street Journal reported that the China Securities Regulatory Commission (“CSRC”) had issued a statement revealing that UP Fintech “violated its national laws by allowing mainland clients to make cross-border trades”, and that the company’s “action of providing offshore securities trading services to customers in mainland China do not comply with the country’s laws and regulations.” According to the article, the CSRC had “discussions with . . . Up Fintech senior executives at the end of 2021 and asked them to comply with such laws.”
On this news, UP Fintech’s share price fell $1.36, or 28.5%, to close at $3.41 per share on December 30, 2022, hurting investors.
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Notification Alert: Individuals with non-public information about UP Fintech should consider their options for assisting the investigation or taking advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information can receive rewards totaling 30 percent of a successful recovery by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].
About GPM
Glancy Prongay & Murray LLP is a leading law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 report. In 2018, GPM was ranked as a top five law firm in number of securities settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won landmark verdicts and recovered billions of dollars for investors and consumers in securities, antitrust, consumer and employment litigation. GPM’s attorneys have handled cases covering a wide range of business misconduct, including cases involving financial restructuring, internal control weaknesses, earnings management, fraudulent earnings guidance and forward-looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations and many other forms of business misconduct. GPM’s attorneys have worked on securities matters related to nearly every industry and sector of the financial markets, including energy, consumer discretionary, consumer goods, real estate and REITs, finance, insurance, information technology, healthcare, biotechnology, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, Financial Times, Bloomberg Businessweek, Reutersit Associated Press, Barron’s, Investor’s Business Daily, Forbesand Money.
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