The investor-rights firm said it is preparing a securities class action after Reuters reported China would penalize online brokers, including Tiger parent UP Fintech, over cross-border securities business.
Rosen Law Firm said it is investigating potential securities claims on behalf of UP Fintech Holding Limited shareholders, alleging the company may have issued materially misleading business information to investors. The firm said it is preparing a class action and that purchasers of UP Fintech securities may be able to seek compensation through a contingency fee arrangement. The release ties the potential claims to a May 22, 2026 Reuters article titled "China to crack down on 'illegal' cross-border securities," which said China had announced a major crackdown on cross-border investment and would punish brokers accused of illegally moving money to foreign markets. Reuters reported that online brokers Tiger, Futu and Longbridge would be penalised for soliciting business in China without an onshore licence, citing the securities regulator. On that news, UP Fintech American Depositary Shares (ADS, U.S.-traded share certificates for foreign stocks) fell 25.3% on May 22, 2026. Rosen urged investors to contact the firm to join the prospective class action and highlighted its record in securities class action and shareholder derivative litigation.