Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, June 26, 2023 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises UP Fintech Holding Limited (“UP Fintech” or the “Company”) (NASDAQ: TIGR) investors that a lawsuit filed on behalf of investors that purchased Fintech securities between April 29, 2020 and May 16, 2023, both dates inclusive (the “Class Period”).
Investors are encouraged to contact an attorney Lesley F. Portnoyby phone 844-767-8529 or e-mail: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a free case evaluation and discuss investors’ options for pursuing claims to recover their losses.
In October 2021, The Wall Street Journal reported that China’s central bank stated that cross-border online brokerages operating in mainland China, including UP Fintech, were engaged in illegal activities. This news caused UP Fintech’s stock price to drop by 17.1%. Later in December 2021, Chinese officials announced plans to ban online brokerages like UP Fintech from offering offshore trading services to mainland clients, resulting in a 2.6% decrease in the company’s stock price. In December 2022, it was revealed that UP Fintech had violated domestic laws by facilitating cross-border trades for mainland customers, leading to a significant stock price decline of 28.5%. Finally, in May 2023, Reuters reported that UP Fintech would be removing its app in mainland China, causing another drop in the company’s stock price by 7.4%. The complaint filed against UP Fintech alleges that the company made false and misleading statements while failing to disclose important facts about its illegal operations, exposing investors to risks and leading to misleading positive statements about the company’s prospects.
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The Portnoy Law Firm represents investors in pursuing claims against causes caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar