Firm case
TruGolf Holdings, Inc. Securities Class Action
LaChance v. TruGolf Holdings, Inc., et al.
NASDAQ: TRUG · D. Utah · 1:26-cv-00119-JNP-CMR · filed July 24, 2026
What the complaint alleges
The complaint alleges that defendants misrepresented or failed to disclose that holders of TruGolf's Series A Convertible Preferred Stock were continuously converting into Class A shares at floating and ratcheting conversion prices, causing substantial ongoing dilution, and that TruGolf's April 15, 2026 Form 10-K overstated its outstanding Class A shares by 480,504 shares, or approximately 52%. The complaint alleges that the financing and related misstatements contributed to a decline of more than 98% in the split-adjusted price of TruGolf's Class A common stock.
Claims asserted: Securities Act Sections 11 and 15; Exchange Act Sections 10(b), 14(a) and 20(a); related shareholder derivative claims
These are allegations in a filed complaint. They have not been proven, and no defendant has been found liable.
Who may be affected
Investors who purchased or otherwise acquired TruGolf Class A common stock during the class period. The class period stated in the published notice runs from September 10, 2025 to May 20, 2026.
What this means for you
You do not need to do anything to be part of the class. If a class is certified, investors who meet the class definition are ordinarily included without taking any action. You do not need to contact the firm, retain a lawyer, or file anything to become or remain a class member.
The lead plaintiff deadline is optional. The reported deadline in this case is September 28, 2026. It applies only to an investor who wants to ask the court to be appointed lead plaintiff, the investor who directs the case on the class's behalf. It runs 60 days from publication of the statutory notice under 15 U.S.C. § 78u-4(a)(3), not from the filing date. Not seeking that role costs an investor nothing as a class member.
Three deadlines matter later, and none of them is today's. To receive money from any settlement, a class member ordinarily must submit a claim form by a stated deadline. A class member who does not exclude themselves by the deadline in the court's notice is bound by the result and gives up the right to sue separately. And statutory time limits, including periods of repose, may run regardless of the class action, so an investor with a large position who may want to sue individually should get advice promptly.
The firm's role
Schwartz & Associates, PC is counsel of record for the plaintiff in this action, the first-filed securities class action concerning TruGolf. The firm works with local counsel in the district where the case is pending.
Talk to the firm
If you purchased TruGolf Holdings, Inc. securities during the class period, the firm would like to hear what you bought and when. Reviewing your information costs nothing and creates no obligation.
Lou Schwartz, Esq. · (918) 238-6445 · lou.schwartz@snalawyers.com
If something happened to more people than you, tell us.
Many class actions begin with one person who noticed a pattern. Reviewing your information costs nothing and creates no obligation.