The Law Offices of Frank R. Cruz announces an investigation of Maison Solutions Inc. (“Maison Solutions” or the “Company”) (NASDAQ: MSS) on behalf of investors concerning the Company’s possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On December 15, 2023, Hindenburg Research published an investigation into Maison Solutions, alleging a number of “red flags” concerning potentially illegal activities and nefarious pumping/manipulation related to the Company. Hindenburg’s investigation uncovered potentially undisclosed related parties, liens and litigation. Hindenburg’s investigation also revealed that the Company may be “being pumped by WhatsApp chat rooms” with screenshots of chatrooms showing ‘trading plans.’ Hindenburg also reported that John Xu, the Company’s Chief Executive Officer, Chairman and President, 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, are named as defendants in an ongoing litigation alleging defendants used supermarkets as a front to defraud the EB-5 visa program.
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, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Maison Solutions securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231220717347/en/