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GDHG.US
id: 1070

Golden Heaven (GDHG) Fraud Case

  • On November 13, 2023, Hindenburg Research made a series of posts on X.com (formerly known as Twitter), revealing fraud allegations against Company’s Chairwoman-CEO and her spouse, as well as major doubts about Company’s financial results.
  • On it, $GDHG fell 27.9 %, losing $343M+ of shareholder value.
  • Investors may have grounds to suspect Golden Heaven of distributing fraudulent information about its business, which led to their losses.
On November 13, 2023, Hindenburg Research made a series of posts on X.com (formerly known as Twitter) under the heading “NEW FROM US: We Are Short Golden Heaven Group, Another Classic ‘China Hustle.’”
  • On it, $GDHG fell 27.9 %, losing $343M+ of shareholder value.
Then on December 6, 2023, Golden Heaven issued a press release, showing that Golden Heaven could not rely on its own amusement parks for business growth and market position in China.
  • On it, $GDHG fell 88.99%, losing $970M+ of shareholder value on December 7, 2023.
Then, on December 8, 2023, Bloomberg published an article which, in addition to commenting on Golden Heaven’s recent sharp share price decline on December 7, 2023, quoted an email from Hindenburg’s founder, stating, inter alia: “Unfortunately, the Nasdaq exchange is littered with dozens of obvious China-based scams. These companies commonly lure in unsuspecting U.S. retail investors through Telegram, Discord, or WhatsApp chat groups then exit through the kind of ‘rug pull’ decline we are seeing with Golden Heaven[.]”
  • On it, $GDHG fell 41.38%, losing $49M+ of shareholder value. on Friday, December 8, 2023
  • The Company’s stock price continued to fall. The following trading session on December 11, 2023 $GDHG fell 3.68%, losing $2.5M+ of shareholder value.
Considering all the information, investors might have grounds to suspect Golden Heaven of intentional fraud, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08 December 2023
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Golden Heaven Group Holdings Ltd.

Golden Heaven Group Holdings Ltd., together with its subsidiaries, engages in the management and operation of urban amusement parks, water parks, and complementary recreational facilities in China....

    Ticker
    GDHG.US
    CIK
    1928340
    Sector
    Consumer Cyclical
    Industry
    Leisure
    Country
    USA
    Address
    No. 8 Banhouhaichuan Road, Nanping, China, 353001