GigaCloud Allegedly Misled Investors on Business Volume, Revenue

GigaCloud Technology Inc. and its top executives allegedly misrepresented the scale of its business, overstated its last-mile operations, and engaged in undisclosed related party transactions, a shareholder lawsuit says.

The international trading services company had overstated its financial results for more than a year, filing misleading disclosures until late last month when Culper Research published a report highlighting the alleged overstatements, according to the complaint filed Monday is US District Court for the Central District of California.

GigaCloud allegedly purported to run 14 warehouses across the country, but disclosed just 73 employees, which would amount to just five employees per ...