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MSS.US

Maison Solutions (MSS) Misleading IPO Case

C.D. California
Court
2:24-cv-00063
Case number
05 Oct 2023
Class period Start
15 Dec 2023
Class period End
  • Investors in Maison Solutions' stocks have initiated a claim against $MSS and its executives, alleging misleading IPO statements.
  • In December 2023, Hindenburg in its report accused Maison Solutions and its CEO of unlawful business practices.
  • $MSS reacted to this with an 83.6% drop, damaging shareholders.
On December 15, 2023, Hindenburg Research published a report about Maison Solutions (MSS), alleging several “red flags” concerning potentially illegal activities.
  • Hindenburg reported that the Company’s CEO, John Xu, is also the President of J&C International Group, a company that “supports 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 revealed that Maison was “being pumped by WhatsApp chat rooms” with screenshots of chatrooms showing “trading plans.”
On this news, $MSS fell 83.6%, seriously damaging investors. Maison stock is traded 62% lower than the $4 IPO price.

In October 2023, Maison conducted its IPO, selling 2,500,00 shares of Class A common stock at $4.00 per share.

Considering appeared facts, Investors have reasons to suspect d Maison Solutions, its CEO, and its Accountables of hiding unlawful business practices from investors in its IPO.

The first Injured investors already filed the initial claim in Califonia vs. Maison over misleading IPO statements.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
15 December 2023
Filing date
04 January 2024
Lead Plaintiff Deadline
04 March 2024
Collecting participants…
Created by Stan Vick, Scout

Maison Solutions Inc.

Maison Solutions Inc., together with its subsidiaries, operates as the specialty grocery retailer in California. The company offers perishable products, such as meat, seafood, vegetables, and fruit...

    Ticker
    MSS.US
    CIK
    1892292
    Sector
    Consumer Defensive
    Industry
    Grocery Stores
    Country
    USA
    Address
    127 N Garfield Avenue, Monterey Park, CA, United States, 91754