Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, today announced that it has filed a class action lawsuit against Defendants PomDoctor Ltd., Zhenyang Shi, Li Xu, Cogency Global, Joseph Stone Capital, LLC, and Marcum Asia CPAs, LLP (collectively, the “Defendants”). The action, which was filed in the U.S. District Court for the Southern District of New York and captioned Louie v. PomDoctor Ltd. et al., Case No. 1:26-cv-01013, asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) on behalf of a class consisting of all persons and entities, other than Defendants and their affiliates, who purchased PomDoctor Securities (“POM”) between October 9, 2025, and December 11, 2025, inclusive (the “Class Period”), and who were damaged thereby. The lead plaintiff deadline in this action is April 6, 2026.
PomDoctor claims to be “a leading online medical services platform for chronic diseases in China.” Specifically, the company states that Frost & Sullivan “ranked [them] sixth in China’s internet hospital market” having achieved this by “develop[ing] a comprehensive platform that connects users with various healthcare providers, delivers cost-effective and customized healthcare solutions, and have cultivated a vibrant ecosystem around it.” The company is headquartered in China.
The complaint alleges that Defendants violated provisions of the Securities Act by making materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and the true nature of the trading activity in its securities. The complaint alleges that Defendants were uniquely situated to orchestrate a pump-and-dump scheme on its class A ordinary shares. After plaintiffs and class members purchased POM, the complaint alleges that PomDoctor’s stock became the subject of an illicit social-media-based promotion scheme that artificially inflated its price. These reports detail how impersonators claiming to be legitimate financial advisors touted PomDoctor in online forums, chat groups, and through social media posts with sensational but baseless claims to create a buying frenzy among retail investors.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs’ counsel, Mollie Chadwick at (619) 233-4565, or via email at [email protected].
CONTACT
Mollie Chadwick
Scott+Scott Attorneys at Law LLP
600 W. Broadway, Suite 3300, San Diego, CA 92101
(619) 233-4565
[email protected]