NEW YORK, Jan. 08, 2023 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Southwest Airlines Co. (NYSE: LUV), Credit Acceptance Credit Acceptance Corporation (NASDAQ: CACC), and UP Fintech Holding Limited (NASDAQ: TIGR). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Southwest Airlines Co. (NYSE: LUV)
On December 26, 2022, Business Insider published an article entitled “US Department of Transportation says it plans to look into Southwest Airlines following the airline’s ‘unacceptable’ holiday flight cancellations.” The article stated, among other things, that the “US DOT tweeted Monday it will examine whether Southwest is abiding by its customer service policy[,]” and “Southwest canceled nearly 3,000 flights on the day after Christmas, the most of any US airline.”
On this news, Southwest’s stock fell $2.15 per share, or 5%, to close at $33.94 per share on December 27, 2022.
For more information on the Southwest investigation go to: https://bespc.com/cases/LUV
Credit Acceptance Credit Acceptance Corporation (NASDAQ: CACC)
On December 20, 2022, Credit Acceptance issued a press release announcing the Company’s Q4 and full year 2022 financial results. Among other things, Credit Acceptance reported Q4 revenue of $274.6 million, down 8.7% year over year, a $58.9 million impairment charge “related to the abandonment of certain manufacturing production lines in the United States that are no longer expected to be completed,” and “a $5.5 million charge related to purchase commitments associated with the abandonment of the [production lines].”
On this news, Credit Acceptance’s stock price fell $5.08 per share, or 15.64%, to close at $27.40 per share on December 20, 2022.
For more information on the Credit Acceptance investigation go to: https://bespc.com/cases/CACC
UP Fintech Holding Limited (NASDAQ: TIGR)
On December 30, 2022, the China Securities Regulatory Commission issued a statement that UP Fintech had for years operated cross-border securities trading businesses without the commission’s approval. Specifically, the China Securities Regulatory Commission stated that “[UP Fintech’s] act has constituted illegal operation of securities business according to the Securities Law and related regulations[.]”
On this news, UP Fintech’s share price fell sharply on December 30, 2022.
For more information on the UP Fintech investigation go to: https://bespc.com/cases/TIGR
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Previous results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com
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