NEW YORK, Dec. 28, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against BRP Group, Inc. (“BRP” or the “Company”) (NASDAQ: BRP) on behalf of BRP stockholders. Our investigation concerns whether BRP has violated the federal securities laws and/or engaged in other unlawful business practices.
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BRP is the subject of a report published by NINGI Research on September 13, 2022. The report alleges that “BRP has doctored its organic growth rate to beat analysts’ estimates,” and “the company misled investors by presenting inorganic revenue as organic revenue through a self-proclaimed separate agreement with an affiliate.” NINGI 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,” however, “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 stock fell $0.42 per share, or 1.35%, to close at $30.77 per share on September 14, 2022.
If you purchased or otherwise acquired BRP shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.