SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP announces an investigation into potential violations of US federal securities laws by UP Fintech Holding Limited (NASDAQ: TIGR ) focusing on whether UP Fintech and certain of its senior executives made false and misleading statements and/or failed to disclose material information to investors.
If you have information that could assist in this investigation or if you are a UP Fintech investor who has suffered a loss and would like to learn more, please provide your information here:
You can also contact a lawyer JC Sanchez of Robbins Geller by calling 800/449-4900 or by email at [email protected].
THE COMPANY: UP Fintech, also known as “Tiger Brokers” in Asia, is an online brokerage firm that allows investors to trade stocks and other financial instruments on multiple exchanges around the world. According to UP Fintech, “users and customers are generally sophisticated Chinese investors residing in and outside of China.”
The revelation: 30 December 2022, The Wall Street Journal reported that the China Securities Regulatory Commission (“CSRC”) issued a statement revealing that UP Fintech “violated its national laws by allowing mainland customers to make cross-border trades”. Specifically, the CSRC stated that UP Fintech’s “action in providing offshore securities trading services to clients in mainland China is not in accordance with the country’s laws and regulations” and that “its officials held discussions with . . . Up Fintech’s top executives in late 2021 and asked them comply with such laws.” On this news, the price of UP Fintech American Depository Shares fell by more than 28%.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller is one of the world’s leading complex class action lawyers representing plaintiffs in securities fraud cases. The firm is ranked No. 1 on the latest ISS Securities Class Action Services Top 50 report for recovering nearly $2 billion for investors in 2021 — more than triple the amount recovered by other plaintiffs’ firms. With 200 attorneys in 9 offices, Robbins Geller is one of the largest litigation firms in the world, and the firm’s attorneys have achieved many of the largest class action securities recoveries in history, including the largest securities recovery ever—$7.2 billion—in In About Enron Corp. Sec. Little. Please visit the following page for more information:
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