A lawsuit was filed on behalf of investors in Maison Solutions Inc. (NASDAQ: MSS) shares over alleged securities laws violations.
SAN DIEGO, CA / ACCESSWIRE / January 12, 2024 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Maison Solutions Inc. (NASDAQ:MSS) shares.
Investors, who purchased shares in excess of $100,000 of Maison Solutions Inc. (NASDAQ: MSS), have certain options and there are short and strict deadlines running. Deadline: March 04, 2024. Those NASDAQ: MSS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
In October 2023, Maison Solutions Inc conducted its initial public offering ("IPO"), selling 2,500,00 shares of Class A common stock at $4.00 per share.
Then on December 15, 2023, Hindenburg Research published a report about Maison Solutions Inc, alleging a number of "red flags" concerning potentially illegal activities. Hindenburg reported that the Company's Chief Executive Officer, John Xu, 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, 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."
Shares of Maison Solutions Inc. (NASDAQ: MSS) declined to as low as $0.865 per share during January 11, 2024.
On January 04, 2024, a lawsuit was filed by a NASDAQ: MSS investor against Maison Solutions Inc. over alleged violations of Securities Laws. The plaintiff alleges that the defendants failed to disclose to investors that the Company's vendor XHJC Holdings Inc., is a related party, that the Company's CEO and related entities were alleged to have used supermarkets as a front to defraud the EB-5 visa program, and that, 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.
Those who purchased Maison Solutions Inc. (NASDAQ: MSS) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.
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