The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Golden Heaven Group Holdings Ltd. (“Golden Heaven” or the “Company”) (NASDAQ: GDHG) securities between April 13, 2023 and November 13, 2023, inclusive (the “Class Period”). Golden Heaven investors have until February 20, 2024 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On November 13, 2023, Hindenburg Research posted a series of allegations on social media, noting that Golden Heaven’s CEO has “a history of undisclosed fraud allegations and asset freezes in China”, that “[t]he company was taken public by securities firms with multiple FINRA infractions” and that Golden Heaven’s “claimed high-tech parks appear to be dystopian hellscapes.” Hindenburg further detailed that each of Golden Heaven’s theme parks were poorly maintained and attracted fewer guests than the Company suggested.
On this news, Golden Heaven’s stock price fell $6.63, or 27.9%, to close at $17.12 per share on November 13, 2023, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Golden Heaven’s amusement parks are in generally poor condition; (2) Golden Heaven materially overstated the number of visitors to its amusement parks and overall growth prospects, and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased Golden Heaven securities during the Class Period, you may move the Court no later than February 20, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Golden Heaven securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20231228730972/en/
The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Golden Heaven Group Holdings Ltd. (GDHG) Investors
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
info@frankcruzlaw.com
www.frankcruzlaw.com
