GigaCloud Technology Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On September 28, 2023, Culper Research issued a report in which they claimed to have identified several significant issues with GigaCloud’s public reporting. Among the concerns raised by Culper Research was the assertion that, despite GigaCloud’s assertion of operating 14 U.S. warehouses, the company’s disclosure indicated just 73 employees across the entire United States, suggesting an average of only 5 employees per warehouse. Additionally, Culper Research alleged that GigaCloud’s promotional materials utilized manipulated stock photos to create an image of a highly efficient and rapidly growing operation, but their own site visits to some of the company’s warehouses revealed limited activity.
As a result of this news, GigaCloud’s stock price experienced a notable decline, dropping by up to 29% during intraday trading on September 28, 2023, thereby causing financial harm to investors.
