Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential securities violations and breach of fiduciary duty claims against BRP Group, Inc. (“BRP Group” or the “Company”) (NASDAQGS: BRP).
On September 13, 2022, market analyst NINGI Research published a report that alleged, "BRP [Group] has doctored its organic growth rate to beat analysts' estimates" and that "[BRP Group] misled investors by presenting inorganic revenue as organic revenue through a self-proclaimed separate agreement with an affiliate." The report also alleged that "in 2020 BRP [Group]'s proprietary ‘MGA of the Future' technology was misappropriated by an employee and handed to a competitor, as alleged by BRP [Group] 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 [Group]'s revenue and market share."
Following this news, BRP Group's stock price fell $2.39 per share, or 7%, to close at $29.98 per share on September 13, 2022. As of December 8, 2022, BRP’s stock is now down to $26.52 per share.
If you currently own shares of BRP Group and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/brp-group-class-action-investigation/ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005084/en/
Contacts
Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Toll Free: 1-800-423-6013
