UP Fintech (TGR) Faces Shareholder Class Action Lawsuit: Johnson Fistel Encourages Investors to Seek Compensation for Alleged Wrongdoings
Johnson Fistel, LLP, a shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of UP Fintech Holding Limited (NASDAQ: TIGR) investors who acquired securities between April 29, 2020 and May 16, 2023, inclusive (the “Class Period”). According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) UP Fintech’s business was, quite simply, illegal as it related to operations in China as a result of its failure to obtain the proper licenses; (2) it did not fully disclose to investors that it was engaging in unlawful activity and instead characterized the applicable Chinese laws as ambiguous; (3) the foregoing subjected the Company to a heightened risk of regulatory enforcement; and (4); as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you are a shareholder who incurred losses during this period, you have until August 21, 2023, to move the court to become a lead plaintiff in this action.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
Johnson Fistel, LLP is a shareholder rights law firm representing individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information, visit their website http://www.johnsonfistel.com.
Johnson Fistel, LLP
Jim Baker, 619-814-4471