The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Megan Holdings Limited who purchased purchased or otherwise acquired Megan: (a) securities pursuant and/or traceable to the registration statement and related prospectus in connection with Megan’s initial public offering, which occurred on or around September 26, 2025; and/or (b) securities between September 26, 2025, and March 25, 2026, inclusive. .
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Megan was the subject of a market manipulation and fraudulent promotion scheme involving social-media based misinformation and impersonators posing as financial professionals; (2) Megan’s public statements and risk disclosures omitted any mention of the realized risk of fraudulent trading or market manipulation used to drive the Company’s stock price; (3) as a result, Megan securities were at unique risk of a sustained suspension in trading by NASDAQ and severe volatility-induced decline; (4) the sole underwriter on the IPO, DBC, had conducted numerous microcap IPOs that suffered volatility-induced declines resulting from market manipulation schemes; (5) the Company suffered from material weaknesses in its internal accounting and financial reporting controls; and (6) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 8, 2026 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
