NEW YORK, Oct. 20, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of BRP Group, Inc. BRP due to allegations that the Company has disclosed potentially materially misleading business information to the investing public.
SO WHAT: If you have purchased BRP Group securities, you may be entitled to compensation without payment of out-of-pocket expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.
WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=9278 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.
WHAT IS THIS ABOUT: On September 13, 2022, market analyst NINGI Research released a report that claimed, among other things, that “BRP manipulated its organic growth rate to exceed analysts’ estimates” and that “the company misled investors by… it inorganic revenue as organic revenue through a self-proclaimed separate arrangement with an affiliate[.]”
The report also alleges that “in 2020, BRP’s proprietary ‘MGA of the Future’ technology was misappropriated by an employee and transferred to a competitor, as alleged by BRP in a court case” and that “the company alleges that the misappropriation first in May 2021 but has not disclosed the theft of the intellectual property to investors to date, despite a court case arguing that the theft has caused and will cause severe damage to BRP’s revenues and market share[.]”
As a result of this news, BRP Group stock fell $2.39 per share, or 7%, to close at $29.98 per share on September 13, 2022.
WHY ROSES LAW: We encourage investors to select qualified advisors with a track record in leadership positions. Frequently, companies that issue notices do not have comparable experience, resources, or meaningful recognition from peers. Many of…
