UP Fintech Holding Limited Investigation - TIGR
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Robbins Geller Rudman & Dowd LLP announces an investigation into potential violations of U.S. federal securities laws by UP Fintech Holding Limited (NASDAQ: TIGR) focused on whether UP Fintech and certain of its top executive officers 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 suffered a loss and would like to learn more, you can provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org.
THE COMPANY: UP Fintech, also known as “Tiger Brokers” in Asia, is an online brokerage firm enabling investors to trade in equities and other financial instruments on multiple exchanges around the world. According to UP Fintech, its “users and customers are generally sophisticated Chinese investors living in and outside China.”
THE REVELATION: On December 30, 2022, The Wall Street Journal reported that the China Securities Regulatory Commission (“CSRC”) issued a statement disclosing that UP Fintech “violated its domestic laws by allowing customers on the mainland to make cross-border trades.” Specifically, the CSRC stated that UP Fintech’s “act of offering offshore securities-trading services to clients in mainland China doesn’t comply with the country’s laws and regulations” and that “its officials had discussions with . . . Up Fintech’s senior executives in late 2021 and told them to 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 Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.