The legal scrutiny follows a May 22, 2026, report by Reuters detailing a Chinese government initiative to penalize brokers operating without proper onshore licenses. Following the announcement, UP Fintech saw its American Depositary Shares drop 25.3% in a single session. Regulators specifically targeted online brokers, including Tiger and Futu, for allegedly facilitating illegal cross-border money movements.
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Rosen Law Firm Targets UP Fintech Over Misleading Disclosure Allegations
Shares of UP Fintech Holding Limited plummeted following a regulatory crackdown in China, prompting the Rosen Law Firm to launch an investigation into potential securities fraud. The firm is now seeking investors who suffered financial losses after allegations surfaced that the company misled the public regarding its cross-border business operations.
Rosen Law is now organizing a class action to recover losses for shareholders who purchased securities during the period in question. The firm, which highlights its history of litigation against Chinese companies, claims investors may be eligible for compensation under a contingency fee arrangement. Those interested in participating in the prospective case are directed to contact Phillip Kim at the firm’s New York office to review their legal standing.
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