The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired Golden Heaven Group Holdings Ltd. (“Golden Heaven” or the “Company”) (NASDAQ: GDHG) securities during the period from April 13, 2023 through November 13, 2023, inclusive. Investors have until February 20, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
[Click here to learn more about the class action]
On November 13, 2023, during market hours, Hindenburg Research posted on X.com (formerly known as Twitter), a series of posts under the heading “NEW FROM US: We Are Short Golden Heaven Group, Another Classic ‘China Hustle.’” Among other items, Hindenburg Research noted that Golden Heaven purportedly operates six properties in Southern China, including amusement parks, water parks and recreational facilities, and the share price has suspiciously gone up since the Company’s April 2023 initial public offering. However, Hindenburg Research speculated that a number of Golden Heaven’s amusement park locations are closed or in poor condition, which the Company either failed to announce or disclosed in an untimely manner. On this news, the price of Golden Heaven shares declined by $6.63 per share, or approximately 27.92%, from $23.75 per share to close at $17.12 on November 13, 2023.
The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (i) Golden Heaven’s amusement parks are in generally poor condition; (ii) Golden Heaven materially overstated the number of visitors to its amusement parks and overall growth prospects, and (iii) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Golden Heaven securities, have information, or would like to learn more about this lawsuit and how it might affect your rights, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: https://www.kmllp.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240207296889/en/
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
