NEW YORK, Jan. 14, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Golden Heaven Group Holdings Ltd. (“Golden Heaven” or the “Company”) (NASDAQ: GDHG). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Golden Heaven and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 13, 2023, Hindenburg Research (“Hindenburg”) 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'”. In its posts, Hindenburg reportedly revealed that Golden Heaven’s Chairwoman & CEO (Qiong Jin) and her spouse were involved in fraud allegations concerning a pharmaceutical company that results in an unpaid judgment and the shutdown of the company’s headquarters, which carries the same principal executive office as Golden Heaven. In addition, Hindenburg investigators reportedly visited all six of Golden Heaven’s parks to gauge visitor activity during peak hours. The largest (Yueyang), responsible for 36% of all guests in 2022, had only 10 cars in the parking lot on a Saturday afternoon visit. Visits to the others reportedly yielded similar results. Accordingly, Hindenburg concluded that it has “major doubts” concerning the validity of Golden Heaven’s financial results.
On this news, Golden Heaven’s stock price fell $6.63 per share, or 28%, to close at $17.12 per share on November 13, 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
