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UP Fintech Holdings Limited


The law firm of Kirby McInerney LLP is investigating potential claims against UP Fintech Holdings Limited (“UP Fintech”) (NASDAQ:TIGR). The investigation concerns whether UP Fintech and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
 
UP Fintech operates as a holding company and, through its subsidiaries, provides online securities brokerage services.
 
On December 30, 2022, the China Securities Regulatory Commission issued a statement that UP Fintech had for years operated cross-border securities trading businesses without the commission's approval. Specifically, the China Securities Regulatory Commission stated that “[UP Fintech’s] act has constituted illegal operation of securities business according to the Securities Law and related regulations[.]” On this news, the price of UP Fintech's shares declined by $1.36, or approximately 28.51%, from $4.77 per share to close at $3.41 on December 30, 2022.
 

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