Peak Fintech Group Inc. (TNT; PKKFF)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Peak Fintech Group Inc. (“Peak Fintech” or the “Company”) (NASDAQ: TNT) (OTC: PKKFF). The investigation concerns whether Peak Fintech and certain of its officers and/or directors have violated federal securities laws.
On October 4, 2021, Grizzly Research published a report alleging several discrepancies in its business practices, including that: (1) Peak’s acquisition of Heartbeat, a Chinese insurance product management and brokerage platform, was mired in suspicious dealings, in which Peak paid a company that was not the registered owner of Heartbeat; (2) the actual registered owner of Heartbeat reported zero revenues in 2019 and 2020; (3) Peak’s statements regarding Heartbeat’s growth since 2020 were not substantiated by basic facts, including the fact that Heartbeat’s website did not go live until 5 days after Peak’s acquisition; (4) there was evidence that Peak inflated its reported revenue by up to 112% in recent fiscal years; (5) the CEO of Peak Group China was previously associated with several companies listed on government blacklists in China. Following this news, Peak Fintech stock dropped over 17.4%, to close at $6.19 on October 4, 2021.
If you are aware of any facts relating to this investigation, or purchased Peak Fintech shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.