NEW YORK, Nov. 9, 2019 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Up Fintech Holding Limited (NASDAQ: TIGR): (a) pursuant and/or traceable to Up Fintech's initial public offering conducted on or about March 20, 2019 (the "IPO" or "Offering"); or (b) between March 20, 2019 and May 16, 2019, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for Up Fintech investors under the federal securities laws.
To join the Up Fintech class action, go to http://www.rosenlegal.com/cases-register-1714.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, the Registration Statement and Defendants' statements throughout the Class Period were false and/or misleading and/or failed to disclose that: (1) Fintech was experiencing a material decrease in commissions because of a negative trend related to risk-averse investors in the market; (2) Fintech was unable to absorb costs associated with the rapid growth of its business and its status as a publicly listed company on a U.S. exchange; (3) Fintech was incurring significant additional expenses related to, inter alia, employee headcount and employee compensation and benefits; (4) all of the foregoing had led to Fintech significantly increasing operating costs and expenses; and (5) as a result, defendants' statements regarding Up Fintech's business, operations, and prospects, were materially false and misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 6, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1714.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE Rosen Law Firm, P.A.