SAN DIEGO, June 20, 2023 (GLOBE NEWSWIRE) -- 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 would like more information and want to join the class action, please click, or copy and paste the following link:
https://www.johnsonfistel.com/investigations/up-fintech-class-action
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.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com
