An investigation on behalf of investors of UP Fintech Holding Limited (NASDAQ: TIGR) shares over potential securities laws violations by UP Fintech Holding Limited and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of UP Fintech Holding Limited (NASDAQ: TIGR) concerning whether a series of statements by UP Fintech Holding Limited regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

China based UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. UP Fintech Holding Limited reported that its annual Total Revenue rose from $16.94 million in 2017 to $33.56 million in 2018 and that its Net Loss increased from $7.51 million in 2017 to $43.2 million in 2018. On or about March 20, 2019, UP Fintech Holding Limited sold 13 million shares of stock in its initial public stock offering (the 'IPO'), at $8.00 a share raising $104,000,000 in new capital.

Shares of UP Fintech Holding Limited (NASDAQ: TIGR) declined from $17.80 per share in April 2019 to as low as $3.71 per share on August 5, 2019.