GigaCloud Technology, Inc. (NASDAQ: GCT)

This lawsuit is for anyone who acquired securities in GigaCloud Technology, Inc. (NASDAQ: GCT) from August 18, 2022 through September 27, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by lying to investors about, among other things, the amount of warehouses that Company operates in the U.S.

On September 28, 2023, Culper Research published a report alleging that it uncovered “numerous glaring flaws” in GigaCloud’s public reporting. For example, Culper Research stated that while GigaCloud “claims to run 14 U.S. warehouses,” the Company “discloses just 73 employees in the entire U.S., implying just 5 employees per warehouse.” Culper Research also alleged that “GigaCloud’s marketing materials utilize photoshopped stock photos to portray itself as a highly efficient, growing operation” but that Culper Research visited some of the Company’s warehouses and discovered little activity. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in GigaCloud Technology, Inc. (NASDAQ: GCT) from August 18, 2022 through September 27, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.