BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Maison Solutions Inc. (“Maison Solutions” or the “Company”) (NASDAQ: MSS) investors concerning the Company’s possible violations of federal securities laws.
On December 15, 2023, Hindenburg Research published an investigation into Maison Solutions, alleging a number of “red flags” concerning potentially illegal activities and nefarious pumping/manipulation related to the Company. Hindenburg’s investigation uncovered potentially undisclosed related parties, liens and litigation. Hindenburg’s investigation also revealed that the Company may be “being pumped by WhatsApp chat rooms” with screenshots of chatrooms showing “trading plans.” Hindenburg also reported that John Xu, the Company’s Chief Executive Officer, Chairman and President, is also the President of J&C International Group (“J&C”) a company which “support[s] immigration services for high-net-worth Chinese investors” and that J&C, John Xu and an alleged related entity, Hong Kong Supermarkets, are named as defendants in an ongoing litigation alleging defendants used supermarkets as a front to defraud the EB-5 visa program.
On this news, Maison Solutions’ stock price fell $12.71 per share, or 83.6%, to close at $2.50 per share on December 15, 2023, thereby injuring investors.
If you purchased Maison Solutions securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com