Golden Heaven Group Holdings Ltd.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On November 13, 2023, during trading hours, Hindenburg Research shared a series of tweets on X.com (previously known as Twitter) titled “NEW FROM US: We Are Short Golden Heaven Group, Another Classic ‘China Hustle.’” Hindenburg pointed out that Golden Heaven claims to run six venues in Southern China, including amusement and water parks, noting a suspicious stock price increase since its IPO in April 2023. Hindenburg suggested that several of Golden Heaven’s amusement parks are either non-operational or in disrepair, a fact the company has either not disclosed or delayed disclosing. Following these revelations, Golden Heaven’s stock price plummeted by $6.63 per share, or about 27.92%, ending the day at $17.12 from a previous $23.75.
The filed lawsuit contends that during the stated period, the Defendants engaged in misleading or false statements, along with omissions, including that: (i) the condition of Golden Heaven’s amusement parks was generally poor; (ii) Golden Heaven had significantly exaggerated its amusement parks’ visitor numbers and its growth outlook; and (iii) hence, the Defendants’ assertions regarding its business operations and future prospects were materially deceptive and/or lacked a solid basis at all crucial times.
