Golden Heaven Group Holdings Ltd. (GDHG) Misled Investors Regarding the Viability of its Amusement Parks
A shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Golden Heaven Group Holdings Ltd. (NASDAQ: GDHG) securities between April 13, 2023 and November 13, 2023. Golden Heaven has stated that it “manages and operates six properties consisting of amusement parks, water parks, and complementary recreational facilities. [. . .]”
According to the complaint, during the class period, defendants failed to disclose that (1) Golden Heaven’s amusement parks are in generally poor condition, and (2) Golden Heaven materially overstated the number of visitors to its amusement parks and overall growth prospects. When the truth of the parks’ condition was disclosed, the price of Golden Heaven stock declined by $6.63 per share, or 27.9%, to close at $17.12 on November 13, 2023.
What Now: Similarly situated shareholders may be eligible to participate in the class action against Golden Heaven Holdings Ltd. Shareholders who want to act as lead plaintiff for the class should contact Robbins LLP. Plaintiffs must file their lead plaintiff papers by February 20, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
