NEW ORLEANS, Jan. 26, 2024 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Maison Solutions Inc. (NasdaqCM: MSS).
Between October 5-10, 2023, the Company, a specialty grocery retailer offering Asian food and merchandise to U.S. consumers, conducted its initial public offering ("IPO" or the "Offering") issuing 2,500,000 common shares to the public at the price of $4.00 per share, of which approximately $10,000,000 went to the Company as proceeds before expenses and after applicable underwriting discounts and commissions. The Company and certain of its executives were subsequently sued in a securities class action lawsuit, alleging that the IPO Offering Documents were false or misleading or failed to disclose that: (i) the Company's principal vendor, XHJC Holdings Inc., is an undisclosed related party; (ii) the Company was involved in previously undisclosed litigation set for trial related to its CEO's use of supermarkets and related companies as a front to defraud the EB-5 visa program, and that, as a result of the foregoing, the defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
KSF's investigation is focusing on whether Maison Solutions' officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Maison Solutions shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit us at https://www.ksfcounsel.com/cases/nasdaqcm-mss/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
View original content to download multimedia:https://www.prnewswire.com/news-releases/maison-solutions-investigation-initiated-by-former-louisiana-attorney-general-kahn-swick--foti-llc-investigates-the-officers-and-directors-of-maison-solutions-inc---mss-302046050.html
SOURCE Kahn Swick & Foti, LLC
