Rosen Law Firm and Robbins LLP filed a class-action lawsuit against Park Ha Biological Technology Co., Ltd. The suit represents investors who purchased securities starting December 27, 2024. The class period for these purchases ends on July 8, 2025. Shareholders have until September 28, 2026, to petition the court for lead plaintiff status.
The complaint alleges Park Ha issued materially false and misleading statements. It claims the company failed to disclose a fraudulent stock promotion and market manipulation scheme. This scheme reportedly involved social media misinformation and individuals impersonating financial professionals.
The lawsuit also alleges the company structured its IPO with a low public float. This tactic allegedly facilitated the market manipulation scheme.