A securities class action has been filed against Park Ha Biological Technology Co., Ltd. (BYAH) on behalf of persons and entities that purchased or otherwise acquired PHH securities between December 27, 2024 through July 8, 2025. This case has been filed in the USDC – SDNY.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and the true nature of its securities trading activity. Specifically, Defendants failed to disclose to investors: (1) that PHH was the subject of a fraudulent stock promotion scheme involving social media-based misinformation and impersonated financial professionals; (2) that PHH’s public statements and risk disclosures omitted any mention of the false rumors and artificial trading activity driving the stock price; (3) that PHH’s IPO was intentionally structured with an extremely low public float to enable the manipulation scheme; and (4) that, as a result of the foregoing, Defendants’ positive statements about PHH’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.