INVESTOR ALERT: ROSEN, A TOP RANKING LAW FIRM, Encourages Lossy Peak Fintech Group Inc. Investors to Learn About Class Action Investigation – TNT, PKKFF
NEW YORK–(COMMERCIAL THREAD) –WHY: Rosen Law Firm, a Global Investor Rights Law Firm, Announces Investigation of Potential Securities Claims on Behalf of Shareholders of Peak Fintech Group Inc. (NASDAQ: TNT) (OTC: PKKFF) Arising from Allegations that Peak may have published misleading marketing information. to the investing public.
SO WHAT: If you have purchased securities of Peak, you may be entitled to indemnification without payment of any fees or charges under a contingency fee agreement. Rosen law firm is preparing class action lawsuit to recover investors’ losses.
WHAT TO DO NEXT: To join the possible class action, go to http://www.rosenlegal.com/cases-register-2169.html or call Phillip Kim, Esq. toll free at 866-767-3653 or by emailing [email protected] or [email protected] for information on the class action.
WHAT DOES IT TALK ABOUT: On October 4, 2021, market researcher Grizzly Research released a report alleging discrepancies in Peak’s business practices. The report alleged, in a relevant part, that: (1) Peak’s acquisition of Heartbeat, a Chinese insurance product management and brokerage platform, got bogged down in suspicious transactions, in which Peak paid a company that was not the registered owner of Heartbeat; (2) the registered beneficial owner of Heartbeat did not report any sales in 2019 and 2020; (3) Peak’s claims regarding Heartbeat’s growth since 2020 were not supported by basic facts, including the fact that Heartbeat’s website didn’t go live until 5 days after Peak’s acquisition ; (4) there was evidence that Peak has inflated its reported income by up to 112% over the past few years; (5) Peak Group China CEO was previously associated with several companies on government blacklists in China.
On this news, Peak’s stock price fell more than 17.4%, from closing at $ 7.50 on October 1, 2021, the previous trading day, to closing at $ 6.19 on October 4, 2021 on an unusually high volume of transactions.
WHY THE ROSEN LAW: We encourage investors to select qualified advisors with a track record of success in leadership roles. Often, companies issuing opinions do not have significant experience, resources or recognition by their peers. Be wise in choosing the right lawyer. Rosen law firm represents investors around the world, focusing its practice on class actions in securities and derivative litigation between shareholders. Rosen law firm has secured the largest securities class action settlement against a Chinese company. Rosen law firm was ranked # 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has been ranked in the top 4 every year since 2013 and has recovered hundreds millions of dollars for investors. In 2019 alone, the company raised more than $ 438 million for investors. In 2020, founding partner Laurence Rosen was appointed by law360 as the Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
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