PHILADELPHIA, PA / ACCESSWIRE / 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.
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.
If you are a BRP investor and would like to learn more about our investigation, please contact Berger Montague PC: James Maro at firstname.lastname@example.org or (215) 875-3093, or Andrew Abramowitz at email@example.com or (215) 875-3015; or please visit the following link to fill out our online form https://investigations.bergermontague.com/brp-group-inc/
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.
James Maro, Senior Counsel
Andrew Abramowitz, Senior Counsel
SOURCE: Berger Montague
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