San Diego, CA -- (SBWIRE) -- 10/05/2023 -- An investigation was announced for investors of GigaCloud Technology Inc. (NASDAQ: GCT) shares over potential securities laws violations by GigaCloud Technology Inc.

Investors who purchased shares of GigaCloud Technology Inc. (NASDAQ: GCT), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by GigaCloud Technology Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Walnut, CA based GigaCloud Technology Inc. provides end-to-end B2B ecommerce solutions for large parcel merchandise.

On Augus 18, 2022, GigaCloud Technology Inc announced the pricing of its initial public offering (the "Offering") of 2,940,000 Class A ordinary shares at a public offering price of $12.25 per Class A ordinary share. The gross proceeds of the Offering were expected to be approximately $36 million before deducting underwriting discounts and commissions and offering expenses.

GigaCloud Technology Inc. reported that its annual Total Revenue rose from $414.19 million in 2021 to $490.07 million in 2022, and that its Net Income declined from $29.25 million in 2021 to $23.97 million in 2022.

Shares of GigaCloud Technology Inc. (NASDAQ: GCT) declined to as low as $4.14 per share on November 03, 2022.

Those who purchased shares of GigaCloud Technology Inc. (NASDAQ: GCT) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.