An investor failed to plausibly allege that UP Fintech Holding Ltd. withheld material information about the company’s unlicensed operations in China, a federal district court ruled.
The financial technology firm adequately disclosed the “risks and uncertainties in the legal landscape in China” to the proposed class members in its annual reports and Sarbanes-Oxley certifications, Judge Jessica G. L. Clarke said in an opinion and order Thursday. Clarke dismissed the proposed class action in the US District Court for the Southern District of New York without prejudice and will allow lead plaintiff Lavale Burns to file a second amended complaint to ...
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