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Class action lawsuit filed over alleged pump-and-dump scheme in Park Ha Biological Technology IPO.

Market News
30 Jul 2026
Newsfile Corp
View Source
Bearish
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A class action lawsuit has been filed against Park Ha Biological Technology Co., Ltd. and related parties, accusing them of orchestrating a pump-and-dump scheme during the company's IPO. The lawsuit alleges that stolen identities of financial advisors were used to promote the stock with false claims, leading to a dramatic 93% share price collapse on July 8, 2025. Investors who bought shares between December 27, 2024, and July 8, 2025, can seek lead plaintiff status until September 28, 2026. The case is ongoing in the Southern District of New York, with law firm Morris Kandinov LLP representing the plaintiffs.

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