Los Angeles, July 17, 2026 (GLOBE NEWSWIRE) -- Triller Group Inc. (Nasdaq: ILLR; ILLRW) ("Triller" or the "Company") issued a statement in response to recent volatility in its common stock price, which declined more than 45% to close at $1.28 per share on July 15, 2026.
The Company confirms that it is not aware of any material corporate developments, undisclosed events, or internal matters that would account for this price movement. Management has reviewed recent business operations, disclosures, and public statements and has not identified any non-public information that would explain the decline. Moreover, management is not aware of who is engaging in the trading activity.
"We want to reassure our shareholders that the Company's underlying business fundamentals and strategic outlook remain unchanged," said Desmond Shu, Acting Chief Financial Officer. "We are closely monitoring this unusual trading activity and have requested that our Special Counsel evaluate this trading activity on July 15, 2026, to determine whether the trading activity is attributable to illegal short-selling or market manipulation."
Special Counsel, Jacob Frenkel, Chair of the Government Investigations and Securities Enforcement Practice at Dickinson Wright PLLC, added "we will investigate to determine who is responsible for the trading activity that is inconsistent with the business performance of Triller. I also will not hesitate to refer unlawful short selling to my former colleagues at the SEC's Enforcement Division, as well as to the Department of Justice, whom I anticipate will take seriously illegal trading activity." Should our review and assessment indicate any wrongdoing, then we also will not hesitate to pursue all available legal remedies to protect Triller's shareholders and the integrity of the Company's stock." Mr. Frenkel has led two lawsuits in the past year – one in 2025 and one in 2026 – against unlawful naked short selling.
On June 17, 2026, a Nasdaq Hearings Panel granted Triller's request for an extension to the previously issued exception request for the Company to regain compliance with the Bid Price Rule. On June 30, 2026, Nasdaq temporarily placed the Company's securities in a T12 trading halt pending issuance of a corrective disclosure, which the Company made on July 1, 2026, which in turn enabled Triller's securities to resume trading with the opening of the market on July 2, 2026. On July 9, 2026, the Nasdaq Hearing Panel granted Triller's further request for an extension to the previously issued exception request for the Company to regain compliance with the Bid Price Rule, requiring that the Company demonstrate 20 consecutive business days with a closing bid price of $1 or greater by July 30, 2026. Since June 25, 2026, the closing bid price of Triller on every business day has been $1 or greater.