Press release
Investigation announced for Investors in shares of GigaCloud Technology Inc. (NASDAQ: GCT) over possible Violations of Securities Laws
An investigation for investors in GigaCloud Technology Inc. (NASDAQ: GCT) shares over potential securities laws violations.
Investors who purchased shares of GigaCloud Technology Inc. (NASDAQ: GCT), 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 GigaCloud Technology Inc. (NASDAQ: GCT) concerning whether a series of statements by GigaCloud Technology Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Walnut, CA based GigaCloud Technology Inc. provides end-to-end B2B ecommerce solutions for large parcel merchandise.
On Augus 18, 2022, GigaCloud Technology Inc announced the pricing of its initial public offering (the "Offering") of 2,940,000 Class A ordinary shares at a public offering price of $12.25 per Class A ordinary share. The gross proceeds of the Offering were expected to be approximately $36 million before deducting underwriting discounts and commissions and offering expenses.
GigaCloud Technology Inc. reported that its annual Total Revenue rose from $414.19 million in 2021 to $490.07 million in 2022, and that its Net Income declined from $29.25 million in 2021 to $23.97 million in 2022.
Shares of GigaCloud Technology Inc. (NASDAQ: GCT) declined to as low as $4.14 per share on November 03, 2022.
Those who purchased shares of GigaCloud Technology Inc. (NASDAQ: GCT) 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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Grizzly GCT Report [https://grizzlyreports.com/gigacloud-technology-inc-another-china-hustle-inflating-key-metrics-using-undisclosed-related-party-shell-companies/]
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