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MSS.US
id: 974
Maison Solutions (MSS) Misleading IPO Case
C.D. California
Court2:24-cv-00063
Case number10/05/2023
Class period Start12/15/2023
Class period End03/04/2024
Lead Plaintiff motion deadline- 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.
Case Status
Motion to dismiss
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
12/15/2023
Filing date
01/04/2024
Lead Plaintiff Deadline
03/04/2024