{"success":true,"data":{"pressRelease":{"id":"114708","rtpr_id":"nGNX834npr","ticker":"TRUG","exchange":"NASDAQ","all_tickers":["TRUG"],"title":"Portnoy Law Firm Announces Class Action on Behalf of TruGolf Holdings, Inc. Investors","author":"Globe Newswire","published_at":"2026-08-10T21:24:05.110Z","article_body":"LOS ANGELES, Aug. 10, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm\n(https://www.globenewswire.com/Tracker?data=NzJ6vXNK_Ag7dH02Pbfs3RcEPY14A8BqAtooOzTXCyYysaDWCJ1empt3vQDj4kwbxR75Luv4PjUgshYIlk598h_ThdjjUEq67jkAq24Qoq4rm8rZ5b3DgGBbBx1VE-73)\nadvises TruGolf Holdings, Inc., (“TruGolf” or the \"Company\") (NASDAQ:\nTRUG) investors of a class action on behalf of investors that bought\nsecurities between September 10, 2025 through May 20, 2026, inclusive (the\n“Class Period”). TruGolf investors have until September 28, 2026 to file a\nlead plaintiff motion.\n\nInvestors are encouraged to contact attorney Lesley F. Portnoy\n(https://www.globenewswire.com/Tracker?data=CF0m-2ysEuELckDnCyr2HlD2BhXkGccddThiGYyyxvAGFVeaFh2ld9KYip1T8yK7KJkFbnPLTs1PlcYvQhsK97UuVH4ustGDwdwFXO4FnaCeUV36s9onLyEu6-DUTVA8), by\nphone 310-692-8883 or email\n(https://www.globenewswire.com/Tracker?data=8EuDydzy3z0Ib02TTH__fLmunSBJtU6qMULatm8gTOBlRTFdWEpfSA5rSBJGobU36aE2RBesFHEeyqOiysp8ZNTfXyhovLgHyXMCfyEZBxQ=):\nlesley@portnoylaw.com, to discuss their legal rights, or join the case via\nhttps://portnoylaw.com/TruGolf-Holdings-Inc. The Portnoy Law Firm can provide\na complimentary case evaluation and discuss investors’ options for pursuing\nclaims to recover their losses.\n\nThe Complaint alleges that, throughout the Class Period, Defendants made\nmaterially false and/or misleading statements and/or failed to disclose\nmaterial adverse facts concerning TruGolf's capital structure, Series A\nConvertible Preferred Stock, financial reporting, and Nasdaq listing\ncompliance. Specifically, the Complaint alleges that Defendants misrepresented\nand/or failed to disclose that: (1) Series A preferred investors were\ncontinuously converting their preferred shares into increasing numbers of\nClass A shares at floating and ratcheting conversion prices, causing massive\nongoing dilution that Defendants continued to describe as a contingent or\nhypothetical future risk; (2) because each conversion required a written\nnotice delivered to TruGolf, the Company received real-time information\nconcerning the conversion activity, the number of shares being issued, and the\nresulting dilution of its public shareholders; (3) although TruGolf stated\nthat it was \"unable to quantify\" the maximum number of Class A shares issuable\nupon conversion, the Company possessed information that would have allowed it\nto disclose the shares already issued, remaining stated value, accrued\ndividends, then-effective conversion price, required share reserve, pending\nconversion notices, and potential issuances at representative market prices;\n(4) TruGolf's April 15, 2026 Form 10-K overstated the number of its\noutstanding Class A shares by 480,504 shares, or approximately 52%, and the\nCompany published additional irreconcilable Class A share counts for identical\nreporting dates; (5) TruGolf's proxy materials failed to disclose the scale\nand foreseeable consequences of the Class A share issuances being authorized,\nincluding that the required share reserve would consume approximately 82% of\nthe Company's remaining authorized Class A shares and expose the Company to\ncontinued dilution and Nasdaq listing risk; (6) TruGolf's April 30, 2026 Form\n10-K amendment purported to identify every person known by the Company to\nbeneficially own more than 5% of its stock while omitting the ATW-related\ninvestors whose outstanding Schedule 13G reported beneficial ownership of\n9.9%; and (7) TruGolf failed to disclose the complete economic operation of\nthe Series A Preferred Stock, including its alternate conversion prices,\ntriggering-event provisions, default rate, floor price, five-year dividend\nmake- whole provisions, and the number of discounted Class A shares issued\nthrough those provisions.\n\nThe Complaint alleges that this financing and the related misstatements caused\nTruGolf's Class A share count to more than double in less than five months,\nforced the Company to complete two reverse stock splits, and contributed to a\ndecline of more than 98% in the split-adjusted price of TruGolf's Class A\ncommon stock.\n\nThe Portnoy Law Firm represents investors in pursuing claims caused by\ncorporate wrongdoing. The Firm’s founding partner has recovered over $5.5\nbillion for aggrieved investors. Attorney advertising. Prior results do not\nguarantee similar outcomes.\n\nLesley F. Portnoy, Esq.\nAdmitted CA, NY and TX Bar\nlesley@portnoylaw.com\n310-692-8883\nwww.portnoylaw.com\n\nAttorney Advertising\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/ea0dd9c0-6e41-4d5a-ad27-b277677af6df)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX834npr","title":"Portnoy Law Firm Announces Class Action on Behalf of TruGolf Holdings, Inc. Investors","author":"Globe Newswire","ticker":"TRUG","created":"2026-08-10T21:24:05.110Z","tickers":["TRUG"],"exchange":"NASDAQ","article_body":"LOS ANGELES, Aug. 10, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm\n(https://www.globenewswire.com/Tracker?data=NzJ6vXNK_Ag7dH02Pbfs3RcEPY14A8BqAtooOzTXCyYysaDWCJ1empt3vQDj4kwbxR75Luv4PjUgshYIlk598h_ThdjjUEq67jkAq24Qoq4rm8rZ5b3DgGBbBx1VE-73)\nadvises TruGolf Holdings, Inc., (“TruGolf” or the \"Company\") (NASDAQ:\nTRUG) investors of a class action on behalf of investors that bought\nsecurities between September 10, 2025 through May 20, 2026, inclusive (the\n“Class Period”). TruGolf investors have until September 28, 2026 to file a\nlead plaintiff motion.\n\nInvestors are encouraged to contact attorney Lesley F. Portnoy\n(https://www.globenewswire.com/Tracker?data=CF0m-2ysEuELckDnCyr2HlD2BhXkGccddThiGYyyxvAGFVeaFh2ld9KYip1T8yK7KJkFbnPLTs1PlcYvQhsK97UuVH4ustGDwdwFXO4FnaCeUV36s9onLyEu6-DUTVA8), by\nphone 310-692-8883 or email\n(https://www.globenewswire.com/Tracker?data=8EuDydzy3z0Ib02TTH__fLmunSBJtU6qMULatm8gTOBlRTFdWEpfSA5rSBJGobU36aE2RBesFHEeyqOiysp8ZNTfXyhovLgHyXMCfyEZBxQ=):\nlesley@portnoylaw.com, to discuss their legal rights, or join the case via\nhttps://portnoylaw.com/TruGolf-Holdings-Inc. The Portnoy Law Firm can provide\na complimentary case evaluation and discuss investors’ options for pursuing\nclaims to recover their losses.\n\nThe Complaint alleges that, throughout the Class Period, Defendants made\nmaterially false and/or misleading statements and/or failed to disclose\nmaterial adverse facts concerning TruGolf's capital structure, Series A\nConvertible Preferred Stock, financial reporting, and Nasdaq listing\ncompliance. Specifically, the Complaint alleges that Defendants misrepresented\nand/or failed to disclose that: (1) Series A preferred investors were\ncontinuously converting their preferred shares into increasing numbers of\nClass A shares at floating and ratcheting conversion prices, causing massive\nongoing dilution that Defendants continued to describe as a contingent or\nhypothetical future risk; (2) because each conversion required a written\nnotice delivered to TruGolf, the Company received real-time information\nconcerning the conversion activity, the number of shares being issued, and the\nresulting dilution of its public shareholders; (3) although TruGolf stated\nthat it was \"unable to quantify\" the maximum number of Class A shares issuable\nupon conversion, the Company possessed information that would have allowed it\nto disclose the shares already issued, remaining stated value, accrued\ndividends, then-effective conversion price, required share reserve, pending\nconversion notices, and potential issuances at representative market prices;\n(4) TruGolf's April 15, 2026 Form 10-K overstated the number of its\noutstanding Class A shares by 480,504 shares, or approximately 52%, and the\nCompany published additional irreconcilable Class A share counts for identical\nreporting dates; (5) TruGolf's proxy materials failed to disclose the scale\nand foreseeable consequences of the Class A share issuances being authorized,\nincluding that the required share reserve would consume approximately 82% of\nthe Company's remaining authorized Class A shares and expose the Company to\ncontinued dilution and Nasdaq listing risk; (6) TruGolf's April 30, 2026 Form\n10-K amendment purported to identify every person known by the Company to\nbeneficially own more than 5% of its stock while omitting the ATW-related\ninvestors whose outstanding Schedule 13G reported beneficial ownership of\n9.9%; and (7) TruGolf failed to disclose the complete economic operation of\nthe Series A Preferred Stock, including its alternate conversion prices,\ntriggering-event provisions, default rate, floor price, five-year dividend\nmake- whole provisions, and the number of discounted Class A shares issued\nthrough those provisions.\n\nThe Complaint alleges that this financing and the related misstatements caused\nTruGolf's Class A share count to more than double in less than five months,\nforced the Company to complete two reverse stock splits, and contributed to a\ndecline of more than 98% in the split-adjusted price of TruGolf's Class A\ncommon stock.\n\nThe Portnoy Law Firm represents investors in pursuing claims caused by\ncorporate wrongdoing. The Firm’s founding partner has recovered over $5.5\nbillion for aggrieved investors. Attorney advertising. Prior results do not\nguarantee similar outcomes.\n\nLesley F. Portnoy, Esq.\nAdmitted CA, NY and TX Bar\nlesley@portnoylaw.com\n310-692-8883\nwww.portnoylaw.com\n\nAttorney Advertising\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/ea0dd9c0-6e41-4d5a-ad27-b277677af6df)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-10T21:24:05.162783578Z","server_sent_at_ms":1786397045162},"received_at":"2026-08-10T21:24:05.532Z","source_url":null},"analysis":{"id":"103708","press_release_id":"114708","analysis_json":{"industry":{"label":"Leisure Products","sector":"Consumer Discretionary"},"redFlags":[],"eventType":"legal_litigation","narrative":"Portnoy Law Firm announced a class action lawsuit against TruGolf Holdings, targeting investors who purchased securities between September 10, 2025, and May 20, 2026.\n\nThe complaint alleges misleading statements regarding TruGolf's capital structure, dilutive preferred stock conversions, and inaccurate share count reporting.\n\nInvestors have until September 28, 2026, to file a lead plaintiff motion, though this release is a third-party solicitation rather than an issuer disclosure.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress."},"keyFigures":null,"quotedText":"Investors are encouraged to contact attorney Lesley F. 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Boilerplate lead-plaintiff-deadline reminder."},"tickerRelevance":{"others":[],"primary":"TRUG"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Portnoy Law Firm announced a class action lawsuit against TruGolf Holdings, targeting investors who purchased securities between September 10, 2025, and May 20, 2026.\n\nThe complaint alleges misleading statements regarding TruGolf's capital structure, dilutive preferred stock conversions, and inaccurate share count reporting.\n\nInvestors have until September 28, 2026, to file a lead plaintiff motion, though this release is a third-party solicitation rather than an issuer disclosure.","key_figures":null,"named_entities":{"people":[{"name":"Lesley F. Portnoy","role":"Attorney"}],"products":[],"companies":[{"name":"TruGolf Holdings, Inc.","ticker":"TRUG"},{"name":"Portnoy Law Firm","relationship":"plaintiff law firm"}],"dollarAmounts":[]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-11T01:43:54.744Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"small-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"durationMs":405763,"modelName":"glm-4.7"}}