Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased 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.
Investors suffering losses on their Golden Heaven investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231228752200/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
