Press release
Investigation announced for Investors in shares of BRP Group, Inc. (NASDAQ: BRP) over possible Violations of Securities Laws
An investigation for investors in BRP Group, Inc. (NASDAQ: BRP) shares over potential securities laws violations by BRP Group, Inc
Investors who purchased shares of BRP Group, Inc. (NASDAQ: BRP), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of BRP Group, Inc. (NASDAQ: BRP) concerning whether a series of statements by BRP Group, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Tampa, FL based BRP Group, Inc. markets and sells insurance products and services in the United States.
BRP Group, Inc. reported that its annual Total Revenue rose from $240.91 million in 2020 to $567.29 million in 2021, and that its Net Loss increased from $15.69 million in 2020 to $30.64 million in 2021.
On September 13, 2022, market analyst NINGI Research published a report alleging, among other things, that "BRP has doctored its organic growth rate to beat analysts' estimates" and that "the company misled investors by presenting inorganic revenue as organic revenue through a self-proclaimed separate agreement with an affiliate[.]"
The report also alleges that "in 2020 BRP's proprietary 'MGA of the Future' technology was misappropriated by an employee and handed to a competitor, as alleged by BRP in a lawsuit" and that "the company allegedly did not notice the misappropriation until May 2021 but did not disclose the intellectual property theft to investors to date, despite arguing in a lawsuit that the theft has and will have severe damage to BRP's revenue and market share[.]"
Shares of BRP Group, Inc. (NASDAQ: BRP) declined from $33.34 per share on August 25, 2022, to as low as $24.82 per share on October 3, 2022.
Those who purchased shares of BRP Group, Inc. (NASDAQ: BRP) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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