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INVESTIGATION ALERT: Berger Montague PC is Investigating Securities Fraud Claims on Behalf of BRP Group, Inc.
(NASDAQ: BRP) Investors
PHILADELPHIA, PA, October 4, 2022 – Berger Montague is currently investigating potential violations of the federal securities laws on behalf of shareholders of BRP Group, Inc. (NASDAQ: BRP) (“BRP”).
BRP markets and sells insurance products and services in the United States. The company operates through four segments: Middle Market, Specialty, MainStreet, and Medicare. BRP maintains its headquarters in Tampa, Florida.
CONTACT:
James Maro, Senior Counsel
Berger Montague
(215) 875-3093
jmaro@bm.net
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About the Case
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.”
Following 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.
About Berger Montague
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Counsel Information
Our attorneys have recovered billions of dollars for our clients.
Andrew Abramowitz, Esq.
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aabramowitz@bm.net
(215) 875-3015
bergermontague.com
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James Maro, Esq.
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jmaro@bm.net
(215) 875-3093
bergermontague.com
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