Law firm announces Triller class action over BKFC accounting and delisting
Wolf Haldenstein Adler Freeman & Herz LLP says a securities class action has been filed against Triller Group Inc. (OTC BB: ILLR) in the U.S. District Court for the Central District of California. The complaint alleges investors were misled about Triller's control over Bare Knuckle Fighting Championship (BKFC) and the risk of a NASDAQ delisting, and the lead-plaintiff deadline is December 14, 2026.
- A securities class action against Triller Group (OTC BB: ILLR) was filed in the U.S. District Court for the Central District of California, according to Wolf Haldenstein.
- The complaint alleges misleading statements about Triller's control over BKFC, its SEC filing delays and its NASDAQ delisting risk.
- The lead-plaintiff deadline is December 14, 2026.
- Triller's stock fell 91.35% over two trading sessions to $0.32 after its December 30, 2025 delisting announcement, per the release.
- NASDAQ sent Triller a notice of non-compliance on September 2, 2026, and the stock trades for pennies.
What the lawsuit covers
According to the law firm's press release, the suit is brought on behalf of all persons or entities who purchased or otherwise acquired Triller shares between October 16, 2024 and December 29, 2026, inclusive. The release lists that end date as given, although the announcement itself is dated Oct. 27, 2026 and describes events only through September 2026. Investors who bought during the class period and lost money may be eligible to take part, the firm says.
The release is attorney advertising. The allegations are those of the complaint as summarized by Wolf Haldenstein, and the source does not include any response from Triller.
The allegations
The complaint alleges that the defendants made false or misleading statements, or failed to disclose, a series of issues during the class period:
- Triller's control over and consolidation of BKFC was tenuous, overstated, and/or non-existent.
- Triller could not file certain periodic financial reports with the SEC on time, in part because of accounting issues tied to its purported control over BKFC.
- As a result, Triller faced an increased risk of delisting from NASDAQ.
- Its disclosure controls and procedures were deficient, the severity of its financial control issues was understated, and the benefits of the Merger were overstated.
- Defendants overstated Triller's ability to resolve its non-compliance with NASDAQ's listing requirements.
Timeline of the stock decline
The release describes how, in its telling, the truth emerged in stages. On March 31, 2025, Triller disclosed it could not timely file its 2024 annual report, and the stock fell $1.40 per share, or 17.95%, to close at $6.40 on April 1, 2025. On April 23, 2025, Triller announced a NASDAQ delinquency notification letter; the stock fell $0.50 per share, or 3.5%, to close at $13.80 on April 24, 2025. After another delinquency tied to its Q1 2025 10-Q was announced on May 23, 2025, the stock fell $1.50 per share, or 19.74%, to close at $6.10 on May 27, 2025.
On August 22, 2025, Triller announced a further delinquency letter over its 2024 10-K, Q1 2025 10-Q and Q2 2025 10-Q. It announced delisting determination letters from NASDAQ on October 20, 2025 and November 21, 2025. The stock then fell $0.71 per share, or 14.7%, to close at $4.12 on November 24, 2025.
On December 30, 2025, Triller announced it was delisted and said that "[t]he filing delay is attributable primarily to one remaining technical matter involving the consolidation of accounts for a U.S.-based operation within Triller Group." The release notes that BKFC had not yet been named. The stock fell $3.38 per share, or 91.35%, over the following two trading sessions, to close at $0.32 on December 31, 2025.
Disclosures in 2026
On January 26, 2026, Triller disclosed that BKFC "should be deconsolidated in the Company's consolidated financial statements from the acquisition date by AGBA . . . on October 15, 2024." The same day it filed its 2024 10-K and its Q1, Q2 and Q3 2025 10-Qs with the SEC. The 2024 10-K identified a material weakness related to the company's failure to properly evaluate and apply consolidation accounting standards to its investment in BKFC, which it said should be classified as an investment at cost less impairment.
Triller's securities were suspended on NASDAQ from December 30, 2025, to April 15, 2026, the day after the company satisfied NASDAQ's conditions to resume trading. The release adds that Triller received a notice of non-compliance from NASDAQ on September 2, 2026, and that its common stock currently trades for pennies.
What it means for investors
Shareholders who bought Triller stock during the stated class period have a lead-plaintiff deadline of December 14, 2026. Wolf Haldenstein says there is no cost or obligation to speak with an attorney. Contact details given are (800) 575-0735 or (212) 545-4774, with Gregory Stone, Director of Case and Financial Analysis, named as the contact person. The firm describes itself as founded in 1888. Whether the claims succeed is for the court to decide, and the release does not say how Triller will respond.
