Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Golden Heaven Group Holdings Ltd. (“Golden Heaven” or the “Company”) (NASDAQ: GDHG) investors that a lawsuit was filed on behalf of investors that purchased Golden Heaven securities between April 13, 2023 through November 13, 2023, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On November 13, 2023, during trading hours, Hindenburg Research shared a series of tweets on X.com (previously known as Twitter) titled “NEW FROM US: We Are Short Golden Heaven Group, Another Classic ‘China Hustle.’” Hindenburg pointed out that Golden Heaven claims to run six venues in Southern China, including amusement and water parks, noting a suspicious stock price increase since its IPO in April 2023. Hindenburg suggested that several of Golden Heaven’s amusement parks are either non-operational or in disrepair, a fact the company has either not disclosed or delayed disclosing. Following these revelations, Golden Heaven’s stock price plummeted by $6.63 per share, or about 27.92%, ending the day at $17.12 from a previous $23.75.
The filed lawsuit contends that during the stated period, the Defendants engaged in misleading or false statements, along with omissions, including that: (i) the condition of Golden Heaven’s amusement parks was generally poor; (ii) Golden Heaven had significantly exaggerated its amusement parks' visitor numbers and its growth outlook; and (iii) hence, the Defendants’ assertions regarding its business operations and future prospects were materially deceptive and/or lacked a solid basis at all crucial times.
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The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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