NEW YORK, May 19, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against UP Fintech Holding Limited (NASDAQ: TIGR), Shift4 Payments, Inc. (NYSE: FOUR), and TriplePoint Venture Growth BDC Corp. (NYSE: TPVG). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
UP Fintech Holding Limited (NASDAQ: TIGR)
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, UP Fintech's share price fell sharply on December 30, 2022.
For more information on the UP Fintech investigation go to: https://bespc.com/cases/TIGR
Shift4 Payments, Inc. (NYSE: FOUR)
On April 19, 2023, Blue Orca Capital issued a report on Shift4 Payments, Inc., alleging that the Company “engaged in a string of highly questionable and hyper aggressive accounting maneuvers seemingly designed to keep the stock afloat, from cash flow manipulation to inexplicable distributor acquisitions that enabled it to capitalize a major component of COGS.”
The report also alleges that “Shift4’s CFO abruptly left the Company the day before its Q2 2022 earnings call, amidst a lengthy string of correspondence with the SEC over its accounting. Its auditor warned of a material weakness over internal controls the very next quarter, just as it spent $256.4 million in a string of M&A that enabled it to capitalize a material share of COGS.”
Shares of Shift4 Payments stock dropped more than 12% in intraday trading on April 19, 2023.
For more information on the Shift4 investigation go to: https://bespc.com/cases/FOUR
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG)
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. TriplePoint is the subject of a report issued by the Bear Cave on May 2, 2023. According to the report, “TriplePoint is encumbered by high fees, weak management, and a weaker loan book saddled by portfolio company bankruptcies and upside-down startups,” adding that “the Bear Cave believes TriplePoint’s equity may be severely impaired, if it has any value at all.”
On this news, shares of TriplePoint fell by nearly 7.9% on the same day.
For more information on the TriplePoint investigation go to: https://bespc.com/cases/TPVG
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
