NEW YORK, Jan. 6, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Maison Solutions Inc. (“Maison Solutions” or the “Company”) (NASDAQ: MSS). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Maison Solutions and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 15, 2023, Hindenburg Research (“Hindenburg”) published a report on Maison Solutions, alleging a number of “red flags” concerning potentially illegal activities. Hindenburg reported that John Xu, the Company’s Chief Executive Officer, is also the President of J&C International Group (“J&C”) a company which “support[s] immigration services for high-net-worth Chinese investors” and that J&C, John Xu and an alleged related entity, Hong Kong Supermarkets, allegedly used supermarkets as a front to defraud the EB-5 visa program. Hindenburg’s investigation further revealed that the Company may be “being pumped by WhatsApp chat rooms” with screenshots of chatrooms showing “trading plans.”
On this news, Maison Solutions’ stock price fell $12.71 per share, or 83.6%, to close at $2.50 per share on December 15, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
