About This Case

Bronstein, Gewirtz & Grossman, LLC a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against TESTFIGMANEWTEMPLATE (NASDAQ: TSTFGMA) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired TESTFIGMA securities between September 7, 2026, and September 17, 2026, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.

Allegations

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that:

(1) Series A preferred investors were actively converting their preferred shares into increasing numbers of Class A shares at floating and ratcheting conversion prices, resulting in significant ongoing dilution;

(2) TruGolf had real-time knowledge of this conversion activity and resulting dilution;

(3) the Company had sufficient information to quantify and disclose the extent and potential impact of the Series A conversions despite stating that it was unable to do so;

(4) TruGolf reported materially inaccurate and inconsistent Class A shares outstanding, including overstating its outstanding shares by approximately 52% in its April 15, 2026 Form 10-K;

(5) the Company failed to adequately disclose the scale and foreseeable consequences of the Class A share issuances, including the risk of continued dilution and Nasdaq listing noncompliance;

(6) TruGolf omitted certain investors with reported beneficial ownership exceeding 5% from its disclosures; and

(7) the Company failed to fully disclose the economic terms and dilutive impact of its Series A Preferred Stock.

When the true details entered the market, the lawsuit claims that investors suffered damages.