39 Days left to seek lead plaintiff status.

The Complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and the true nature of the trading activity in the securities. The Offering Documents contained material misstatements and omissions of fact. Specifically, Defendants failed to disclose to investors that: (1) Megan was the subject of a market manipulation and fraudulent promotion scheme involving social-media based misinformation and impersonators posing as financial professionals; (2) Megan’s public statements and risk disclosures omitted any mention of the realized risk of fraudulent trading or market manipulation used to drive the Company’s stock price; (3) as a result, Megan securities were at unique risk of a sustained suspension in trading by NASDAQ and severe volatility-induced decline; (4) the sole underwriter on the IPO, had conducted numerous microcap IPOs that suffered volatility-induced declines resulting from market manipulation schemes; (5) the Company suffered from material weaknesses in its internal accounting and financial reporting controls; and (6) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis.

Megan Holdings Limited (NASDAQ: MGN) Claim Form