An investigation for investors in UP Fintech Holding Limited (NASDAQ:TIGR) shares over potential securities laws violations by UP Fintech Holding Limited was announced
San Diego, CA -- (SBWIRE) -- 02/02/2023 -- An investigation on behalf of investors of UP Fintech Holding Limited (NASDAQ: TIGR) shares over potential securities laws violations by UP Fintech Holding Limited and certain of its directors and officers in connection with certain financial statements was announced.
Investors who purchased shares of UP Fintech Holding Limited (NASDAQ: TIGR), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of UP Fintech Holding Limited (NASDAQ: TIGR) concerning whether a series of statements by UP Fintech Holding Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
China based UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. UP Fintech Holding Limited reported that its annual Total Revenue rose from $138.49 million in 2020 to $264.48 million in 2021, and that its Net Income declined from $16.06 million in 2020 to $14.69 million in 2021.
On December 30, 2022, the China Securities Regulatory Commission issued a statement that UP Fintech had for years operated cross-border securities trading businesses without the commission's approval. Specifically, the China Securities Regulatory Commission stated that "[UP Fintech's] act has constituted illegal operation of securities business according to the Securities Law and related regulations[.]"
Shares of UP Fintech Holding Limited (NASDAQ: TIGR) declined from $5.79 per share on December 05, 2022, to $3.20 per share on January 03, 2022.
Those who purchased shares of UP Fintech Holding Limited (NASDAQ: TIGR) have certain options and should contact the Shareholders Foundation.
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