LOS ANGELES, Oct. 28, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm notifies investors in UP Fintech (NASDAQ: TIGR) that a securities class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired UP Fintech common stock between April 22, 2024, and June 2, 2026, inclusive (the ‘Class Period’). Find out if you qualify to recover your per-share losses by choosing to join the class action and submit your trade details. Investors who suffered financial losses have until December 28, 2026 to seek appointment as lead plaintiff. Shareholders should contact Lesley Portnoy via e-mail (Lesley@portnoylaw.com or call (310) 692-8883) or visit http://portnoylaw.com/up-fintech to learn more information and discuss their legal rights.

Please visit our website for more information on how to participate in this class action.

On May 22, 2026, Reuters published an article titled “China to crack down on ‘illegal’ cross-border securities,” reporting that Chinese authorities had announced a major regulatory sweep targeting cross-border investment activity. The report noted that regulators intended to penalize brokerages accused of illicitly facilitating capital transfers to overseas markets, which triggered a sharp sell-off in retail brokerage equities. Specifically, the China Securities Regulatory Commission indicated that digital brokers including Tiger, Futu, and Longbridge would face penalties for soliciting mainland clients without an onshore license. Following news of the regulatory action, UP Fintech’s American Depositary Shares (ADS) plummeted 25.3% on May 22, 2026.

WHY PORTNOY LAW FIRM

The Portnoy Law Firm represents investors in complex securities class action litigation and shareholder rights matters across the nation. Founded by Lesley Portnoy, the firm’s attorneys have recovered billions of dollars for aggrieved institutional and retail investors. The firm leverages extensive legal expertise and sophisticated financial forensic capabilities to hold public corporations accountable for corporate wrongdoing and misrepresentation.

Lead Plaintiff Deadline: Investors who suffered losses on UP Fintech stock during the Class Period have until December 28, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the UP Fintech Lawsuit

Q: What is the UP Fintech lead plaintiff deadline?
A: Following the publication of a short-seller report by Jehoshaphat Research on June 16, 2026—which questioned the company’s organic growth, disclosed a short position, and detailed allegations of aggressive channel stuffing and financial engineering—Gildan Activewear Inc.’s NYSE-listed shares fell $11.63 per share, or 18.7%, to close at $50.34 on June 16, 2026.

Q: How much did UP Fintech stock drop and on what dates?

A: Following the disclosure of an investigation and administrative penalties by the China Securities Regulatory Commission (CSRC) Beijing Bureau regarding unlicensed cross-border activities, UP Fintech Holding Limited American Depositary Shares (ADSs) fell $1.48 per ADS, or 25.3%, to close at $4.36 on May 22, 2026. Subsequently, on June 2, 2026, after the company reported its first-quarter 2026 financial results and acknowledged the roughly RMB 411 million in penalties, UP Fintech ADSs dropped an additional $0.20 per ADS, or 3.86%, to close at $4.97, followed by another drop of $0.30 per ADS, or 6%, to close at $4.67 on June 3, 2026.

Q: What specific misstatements does the UP Fintech lawsuit allege?

A: The lawsuit alleges that throughout the Class Period, Defendants made materially false and misleading statements and filed annual reports containing inaccurate risk disclosures and deficient internal controls. Specifically, the complaint alleges that Defendants materially understated the company’s legal and regulatory risks by concealing its continued and ongoing illegal cross-border securities, fund, and futures business activities in mainland China, thereby rendering their public statements and risk disclosures about compliance and operational stability false, misleading, and lacking a reasonable basis.

Q: What do UP Fintech investors need to do right now?

A: Investors who purchased TIGR common stock during the Class Period (April 22, 2024, through June 2, 2026) should gather their trade confirmation slips or brokerage transaction logs showing purchase dates, number of shares, and prices paid. You may submit your trade details to Portnoy Law Firm here for a free, no-obligation evaluation of your potential loss recovery. No immediate legal action is required to remain an eligible absent class member.

Q: Does it cost anything to participate in this case as a lead plaintiff?

A: A lead plaintiff does not pay any fees or expenses out of pocket. Our firm works on a contingency basis, and will collect any fees or expenses directly from a future recovery.

Q: What is a lead plaintiff and why does it matter?

A: A lead plaintiff is a court-appointed class member who acts on behalf of all other class members in directing the litigation. The lead plaintiff is typically the investor or group of investors that makes a motion with the largest financial interest in the relief sought. While serving as lead plaintiff does not increase an investor’s individual financial recovery compared to other class members, it gives the investor direct authority to select lead counsel and oversee the prosecution of the lawsuit.

Q: Does the lead plaintiff receive any type of compensation?”

A: Yes, in many cases, Courts award the lead plaintiff an additional amount of money to compensate the lead plaintiff for their participation in the case.

Q: What if I already sold my UP Fintech shares — can I still recover losses?
A: Yes. Eligibility to participate in a securities class action recovery depends on whether you purchased or acquired TIGR common stock during the Class Period (April 22, 2024, to June 2, 2026) and suffered an economic loss. Investors who sold their shares prior to or after the public disclosures may still be eligible to recover damages based on the artificial inflation present in the stock at the time of purchase.

Q: How long will the UP Fintech lawsuit take to resolve?
A: Securities class action lawsuits typically take between two and four years from initial filing to full resolution. The exact timeline depends on court scheduling, motion practice (such as motions to dismiss), pre-trial discovery, and potential settlement negotiations or trial proceedings.

Q: Can I choose a different law firm to represent me?
A: Yes. Investors have the absolute right to retain any legal counsel of their choice. When multiple class action complaints are filed, the court will consolidate the actions and appoint a lead plaintiff and lead counsel. You may choose to be represented by Portnoy Law Firm, retain separate counsel, or remain an absent class member represented by court-appointed lead counsel.

CONTACT INFORMATION

Portnoy Law Firm
Lesley Portnoy, Esq.
Email: lesley@portnoylaw.com / info@portnoylaw.com
Telephone: (310) 692-8883

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