NEW YORK–(BUSINESS WIRE)–#A–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Maison Solutions Inc. (“Maison Solutions” or the “Company”) (NASDAQ: MSS) on behalf of Maison Solutions stockholders. Our investigation concerns whether Maison Solutions has violated the federal securities laws and/or engaged in other unlawful business practices.
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On December 15, 2023, Hindenburg Research posted a scathing tweet concluding “[w]e believe $MSS is slated to suffer a similar fate to $GDHG and that retail shareholders will once again be left holding the bag on a massively overvalued company that has become bloated in size due to illegal and nefarious pumping/manipulation.” Hindenburg revealed that Maison Solutions had an apparently undisclosed federal tax lien and highlighted the millions the Company spent acquiring assets from the wife of the company’s Chief Executive Officer, John Xu. In addition, Hindenburg reportedly accused Xu and a related entity of being named defendants in 2020 litigation alleging that Xu and the entity used supermarkets as a front to defraud the EB-5 visa program, and observed that Maison Solutions used an underwriter for its initial public offering that has numerous FINRA violations including for “manipulative practices.”
In response, the price of Maison Solutions shares plummeted over 83%, on December 15, 2023.
If you purchased or otherwise acquired Maison Solutions shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.