NEW YORK, Nov. 03, 2026 (GLOBE NEWSWIRE) -- SueWallSt reminds purchasers of UP Fintech Holding Limited (NASDAQ: TIGR) securities of a pending securities class action covering purchases between April 22, 2024 and June 2, 2026. YOUR OPTIONS: You may be entitled to compensation without payment of any out-of-pocket fees. See if you could be eligible to recover or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.
May 22, 2026: TIGR American Depositary Shares fell $1.48, or 25.3%, to close at $4.36. June 2 and June 3, 2026: alleged additional related declines of $0.20 (3.86%) and $0.30 (6%). Investors have until December 28, 2026 to seek lead plaintiff status.
The UP Fintech Timeline: Disclosure Events and Warning Signs Before 2024
The lawsuit chronicles a regulatory history the Company itself disclosed. A September 2016 rectification notice from the CSRC's Beijing branch was followed on December 30, 2022 by the CSRC 1230 Notice, which stated the Company had conducted cross-border securities business for mainland investors without approval and ordered it to stop soliciting new mainland customers. By May 18, 2023, the "Tiger International" app had been removed from the PRC application market.
As detailed in the action, the Company kept telling investors it was cooperating with the CSRC on rectification, even as the alleged unlicensed activity in mainland China continued.
Timeline of Alleged Disclosure Failures
- April 22, 2024: The 2023 annual report on Form 20-F, carrying management's Sarbanes-Oxley certifications, opened the Class Period with licensing and rectification disclosures that the complaint recounts understated actual regulatory risk.
- April 23, 2025: The 2024 annual report repeated substantially similar disclosures.
- April 24, 2026: A third annual report carried the same language, four weeks before the penalties were announced.
- May 22, 2026: The Company disclosed that the CSRC Beijing Bureau found its subsidiaries conducted unlicensed cross-border securities business and illegal fund and futures activity, imposing RMB 308.1 million in penalties and confiscating RMB 103.1 million in illegal income. The Company said it "will strictly implement the rectification measures required by the authorities."
- June 2, 2026: First-quarter 2026 results recognized roughly $59.7 million in penalties and confiscations, and the Class Period closed.
"Timely disclosure of material developments is fundamental to fair and efficient markets. The complaint alleges that UP Fintech described rectification as ongoing in three consecutive annual reports while unlicensed mainland business continued, and that the scale of the regulatory exposure became public only when penalties were announced on May 22, 2026." -- Joseph E. Levi, Esq.
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Frequently Asked Questions About the TIGR Lawsuit
Q: What specific misstatements does the TIGR lawsuit allege? A: The complaint alleges UP Fintech Holding Limited made materially false or misleading statements regarding its legal and regulatory risk in mainland China and its efforts to rectify prior unlicensed cross-border securities activity during the Class Period. When the CSRC Beijing Bureau's findings and penalties and confiscations totaling approximately RMB 411 million were disclosed on May 22, 2026, the stock price declined sharply.
Q: When did UP Fintech allegedly mislead investors? A: The Class Period runs from April 22, 2024 to June 2, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.
Q: What court was the TIGR class action filed in? A: The case was filed in the United States District Court for the District of New Jersey, governed by the Private Securities Litigation Reform Act of 1995.
Q: What do TIGR investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What if I already sold my TIGR shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.
Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution. Timing depends on the court schedule, case developments, and whether the matter is dismissed, settled, or litigated further.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (888) SueWallSt
Fax: (212) 363-7171
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