SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of BRP Group, Inc. - BRP
NEW YORK, Oct. 10, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of BRP Group, Inc. (""BRP" or the "Company") (NASDAQ: BRP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether BRP and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 13, 2022, NINGI Research ("NINGI") published a report alleging 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 NINGI 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."
On this news, BRP's stock price fell $2.39 per share, or 7.38%, to close at $29.98 per share on September 13, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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