LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Peak Fintech Group Inc. (“Peak” or “the Company”) (NASDAQ: TNT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Peak is the subject of a report published by Grizzly Research on October 4, 2021. According to the report, the Company’s acquisition of Chinese firm Heartbeat was extremely suspicious, including the fact that the organization paid by the Company in this transaction was not the registered owner of Heartbeat. The report alleges that the actual owner of Heartbeat reported zero revenues in 2019 and 2020. The report alleges that the Company’s claims about Heartbeat’s financial performance could not be substantiated by factual analysis. The report also claims that the Company inflated its revenue by up to 112% in recent fiscal years. Following the publication of the report, shares of Peak fell sharply.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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