LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz continues its investigation of UP Fintech Holding Limited (“UP Fintech” or the “Company”) (NASDAQ: TIGR) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On December 30, 2022, The Wall Street Journal reported that the China Securities Regulatory Commission (“CSRC”) had issued a statement disclosing that UP Fintech “violated its domestic laws by allowing customers on the mainland to make cross-border trades,” and that the Company’s “act of offering offshore securities-trading services to clients in mainland China doesn’t comply with the country’s laws and regulations.” According to the article, the CSRC “had discussions with . . . Up Fintech’s senior executives in late 2021 and told them to comply with such laws.”
On this news, UP Fintech’s stock price fell $1.36, or 28.5%, to close at $3.41 per share on December 30, 2022, thereby injuring investors.
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If you purchased UP Fintech securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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