New York, New York--(Newsfile Corp. - December 21, 2023) - Pomerantz LLP is investigating claims on behalf of Maison Solutions Inc. ("Maison Solutions" or the "Company") (NASDAQ: MSS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 and nefarious pumping/manipulation related to the Company. Hindenburg's investigation purported to have uncovered potentially undisclosed related parties, liens and litigation. Hindenburg also claimed 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.
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
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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