Robbins LLP is Investigating Allegations that UP Fintech Holding Limited Conducted Unlicensed Cross-Border Securities Business and Illegal Activities Relating to the Fund and Futures Business in Mainland China

Robbins LLP informs investors that a class action was filed on behalf of all persons and entities who purchased or otherwise acquired UP Fintech Holding Limited (NASDAQ: TIGR) securities between April 22, 2024 and June 2, 2026, inclusive (the “Class Period”). UP Fintech purports to be a “leading integrated financial technology platform providing cross-market, multi-product investment experience for investors around the world.”

Why Was UP Fintech Sued?

The complaint alleges that, during the Class Period, defendants failed to disclose that (1) UP Fintech materially understated its legal and regulatory risk, considering its continued illegal activity in China, and (2) as a result, defendants’ statements about UP Fintech’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Why Did UP Fintech Stock Drop?

Plaintiff alleges that on May 22, 2026, UP Fintech filed with the SEC a Current Report on Form 6-K, which stated that certain subsidiaries of UP Fintech had “received notices from the China Securities Regulatory Commission Beijing Bureau (the “CSRC Beijing Bureau”) indicating that the CSRC Beijing Bureau had initiated an investigation into their suspected illegal operations of securities, fund and futures business, and found that these subsidiaries had conducted unlicensed cross-border securities business and illegal activities relating to the fund and futures business in mainland China. Based on its findings, the CSRC Beijing Bureau has imposed administrative penalties in the aggregate amount of approximately RMB308.1 million and confiscation of illegal income in the aggregate amount of approximately RMB103.1 million. Mr. Tianhua Wu, a director and the CEO and controlling person of the Company, has also received a warning and penalty of RMB1.25 million. As of the end of 2025, retail client assets in mainland China under the Company’s consolidated accounts constituted approximately 10% of the Company’s total client assets.”

On this news, the price of UP Fintech ADSs fell $1.48 per ADS, or 25.3%, to close at $4.36 on May 22, 2026.

Then, on June 2, 2026, UP Fintech announced its unaudited first quarter 2026 financial results, including increased net loss and non-GAAP net loss from the same quarter last year. The announcement also stated that “[r]ecently on May 22, the Beijing Bureau of the China Securities Regulatory Commission (CSRC) issued administrative penalties and ordered the confiscation of illegal gains against certain subsidiaries of the Company, with a total amount of approximately RMB 411 million (equivalent to roughly $59.7 million).”

On this news, UP Fintech ADSs fell $0.20 per ADS, or 3.86%, to close at $4.97 on June 2, 2026. The following day, UP Fintech ADSs fell a further $0.30 per ADS, or 6%, to close at $4.67 on June 3, 2026.

Who May Be Eligible to Participate in the UP Fintech Holding Limited Class Action?

The lawsuit seeks to represent investors who purchased or otherwise acquired UP Fintech Holding Limited securities between April 22, 2024 and June 2, 2026. Investors who suffered losses during that period may have legal rights under the federal securities laws. Submit a form for information.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.