Chinese Fintech Co. Dodges Investor IPO Suit

Law360 (March 17, 2021, 7:18 PM EDT) -- Chinese company UP Fintech Holding Ltd. no longer faces a proposed class action alleging the company misrepresented its financials in advance of its 2019 initial public offering, a federal judge in Manhattan decided Wednesday.

In his order, U.S. District Judge Jesse M. Furman dismissed the latest version of the securities fraud suit, finding that omissions cited by the plaintiff investors in the company's public filings wouldn't have been "material" to reasonable investors.

According to Judge Furman, when the company's public filings were considered as a whole and all reasonable inferences were drawn in the investors' favor, "the court concludes that any...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!