A securities class action has been filed against Triller Group Inc. (ILLR) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Triller securities between October 16, 2024 through December 29, 2025. This case has been filed in the USDC – CDCA.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Triller’s control over and consolidation of BKFC was tenuous, overstated, and/or non-existent; (ii) Triller could not timely file one or more of its periodic financial reports with the SEC as required by the NASDAQ’s listing requirements, in part, because of accounting issues related to the foregoing; (iii) as a result of all the foregoing, Triller was at an increased risk of being delisted from the NASDAQ; (iv) accordingly, Triller’s disclosure controls and procedures were deficient, the full scope and severity of issues with its financial controls were understated, and the overall benefits of the Merger were overstated; (v) Defendants likewise overstated Triller’s ability to address its non-compliance with the NASDAQ’s listing requirements; and (vi) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
The truth began to emerge on March 31, 2025, when Triller filed a Form NT 10-K with the SEC, disclosing its inability to timely file its annual report on Form 10-K for the quarter and year ended December 31, 2024 (the “2024 10K”) “without unreasonable effort or expense” “because it requires additional time to finalize its financial statements to be included in such Form 10-K.”
On this news, Triller’s stock price fell $1.40 per share, or 17.95%, to close at $6.40 per share on April 1, 2025.