NEW YORK, Jan. 23, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against UP Fintech Holding Limited (NASDAQ: TIGR ), G-III Apparel Group, Ltd. (NASDAQ: GIII ), Super Micro, Inc. (NASDAQ: SMCI ), and Mercury Systems, Inc. (NASDAQ: MRCY ). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other illegal business practices. Further information on each case can be found at the link.
UP Fintech Holding Limited (NASDAQ: TIGR)
On December 30, 2022, the China Securities Regulatory Commission issued a statement that UP Fintech had been conducting cross-border securities trading without the commission’s approval for years. In particular, the China Securities Regulatory Commission stated that “[UP Fintech’s] action has constituted illegal operation of securities business in accordance with the Securities Act and related regulations[.]”
On this news, UP Fintech’s share price fell sharply on 30 December 2022.
For more information on the UP Fintech survey, go to:
G-III Apparel Group, Ltd. (NASDAQ: GIII)
On November 30, 2022, the company announced third quarter 2023 fiscal results, which revealed that quarterly earnings per share missed analyst estimates. The company also announced that it is updating its guidance for fiscal 2023, citing higher inventory levels causing “logistical challenges.” Following this announcement, the company’s share price fell.
For more information on the G-III investigation go to:
Super Micro, Inc. (NASDAQ: SMCI)
On January 10, 2023, market analyst Spruce Point Capital released a report on Super Micro indicating, among other things, that Spruce Point Capital “has serious concerns about the accuracy of [Super Micro’s] financial reporting and the sustainability of the latest share price development.”
On this news, the price of Super Micro shares fell more than 9%.
For more information on the Super Micro investigation, go to:
Mercury Systems, Inc. (NASDAQ: MRCY )
The investigation concerns whether Mercury and some of its executives and/or board members have engaged in securities fraud or other illegal business practices.
On July 26, 2022, Glasshouse Research (“Glasshouse”) published a short report entitled “Roll-Up Mercury Systems Set to Unravel.” The Glasshouse report claimed, among other things, that Mercury’s organic revenue is “overstated”, that the company’s recent Physical Optics acquisition has been a “disaster”, and that management has prematurely recognized revenue on certain significant projects.
On this news, Mercury’s stock price fell $4.73, or 7.6%, in intraday trading on July 26, 2022.
For more information on the Mercury survey, go to:
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC 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, derivatives and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar outcomes.
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.