UP Fintech Holding Limited NASDAQ: TIGR

A securities fraud class action lawsuit has been filed against UP Fintech Holding Limited (“UP Fintech” or the “Company”) (NASDAQ: TIGR) on behalf of shareholders who purchased or otherwise acquired the Company's American Depositary Shares between April 22, 2024 and June 2, 2026, inclusive (the “Class Period”). UP Fintech, through its Tiger Brokers subsidiary, describes itself as an integrated financial technology platform providing cross-market, multi-product investment services to investors around the world.

The complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose that UP Fintech was conducting unlicensed cross-border securities business and other illegal activity relating to its fund and futures business in mainland China; that, as a result, the Company materially understated its legal and regulatory risk; and that, accordingly, defendants' statements about UP Fintech's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.

On May 22, 2026, UP Fintech disclosed in a Form 6-K that certain of its subsidiaries had received notice from the China Securities Regulatory Commission's Beijing Bureau that it had found those subsidiaries conducted unlicensed cross-border securities business and illegal fund and futures activity in mainland China, and had imposed administrative penalties and confiscation of illegal income totaling approximately RMB 411 million (about $59.7 million), along with a personal penalty against the Company's CEO. On this news, UP Fintech's American Depositary Shares fell $1.48 per ADS, or 25.3%, to close at $4.36 on May 22, 2026. On June 2, 2026, the Company disclosed the CSRC penalty again in its first-quarter 2026 results, which also reported an increased net loss; ADSs fell a further $0.20 per ADS, or 3.86%, to close at $4.97, and fell an additional $0.30 per ADS, or 6%, to close at $4.67 the following day, June 3, 2026.