NEW YORK, Jan. 23, 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), 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 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
G-III Apparel Group, Ltd. (NASDAQ: GIII)
On November 30, 2022, the Company announced third quarter fiscal 2023 results, which revealed that quarterly earnings per share missed analyst estimates. The Company also announced it was updating its guidance for fiscal year 2023, citing higher inventory levels causing “logistical challenges.” Following this announcement, the Company’s stock price dropped.
For more information on the G-III investigation go to: https://bespc.com/cases/GIII
Super Micro, Inc. (NASDAQ: SMCI)
On January 10, 2023, market analyst Spruce Point Capital released a report about Super Micro indicating, among other things, that Spruce Point Capital “has grave concerns about the accuracy of [Super Micro’s] financial reporting and sustainability of its recent stock price performance.”
On this news, the price of Super Micro stock dropped more than 9%.
For more information on the Super Micro investigation go to: https://bespc.com/cases/SMCI
Mercury Systems, Inc. (NASDAQ: MRCY)
The investigation concerns whether Mercury and certain of its officers and/or directors have engaged in securities fraud or other unlawful 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%, during intraday trading on July 26, 2022.
For more information on the Mercury investigation go to: https://bespc.com/cases/MRCY
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.