SAN DIEGO, Aug. 23, 2019 Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against UP Fintech Holding Limited (NASDAQ: TIGR) (“Fintech”) for violations of federal securities laws. Fintech provides online brokerage services focusing on Chinese investors.
On or about March 20, 2019, Fintech sold 13 million shares of stock in its initial public stock offering (the “IPO”), at $8.00a share raising $104,000,000 in new capital. However, since the IPO, Fintech stock has plunged, on August 22, 2019, the stock closed at $5.00.
Specifically, Johnson Fistel’s investigation seeks to determine whether the Company’s filings with the U.S. Securities and Exchange Commission in connection with its March 2019 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company’s business, and operations.
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