Wolf Haldenstein files Megan Holdings class action over 2025 IPO and 93.4% stock collapse
Levi & Korsinsky has issued another investor notice tied to Megan Holdings securities claims, again citing a Sept. 8, 2026 lead-plaintiff deadline while laying out a detailed timeline of the alleged pump-and-dump scheme and naming additional underwriter comparables.
Wolf Haldenstein Adler Freeman & Herz LLP previously disclosed a securities class action in New York federal court over Megan Holdings Limited’s 2025 IPO and the company’s 93.4% stock-price collapse on March 26, 2026. Subsequent investor notices from Robbins LLP and Faruqi & Faruqi, LLP described related federal securities claims tied to purchases in or traceable to Megan’s Sept. 26, 2025 IPO and to open-market purchases during a class period ending March 25, 2026, while citing differing lead-plaintiff deadlines and even conflicting IPO dates in earlier materials. Bernstein Liebhard LLP later issued its own notice saying a shareholder filed a securities class action on behalf of investors who bought Megan securities pursuant or traceable to the offering documents issued in connection with the company’s Sept. 26, 2025 initial public offering, or bought securities between Sept. 26, 2025 and May 25, 2026, inclusive. Portnoy Law Firm then published another notice on behalf of investors who bought Megan securities between Sept. 26, 2025 and March 25, 2026, or purchased shares pursuant or traceable to the IPO, and said investors seeking to serve as lead plaintiff must file by Sept. 8, 2026. Levi & Korsinsky has now circulated a further notice covering the same Sept. 26, 2025 to March 25, 2026 class period and IPO purchasers, asserting claims under both the Exchange Act and Securities Act against Megan, Darren Hoo AKA Hoo Wei Sern, Ng Kai Tie, WWC, P.C., and D. Boral Capital LLC. Its release adds a chronological account of the alleged scheme, from the IPO of 1,250,000 shares at $4.00 each for $5 million in gross proceeds, through a rise from a Feb. 25, 2026 close of $1.23 to a March 25 intraday high of $5.18 and close of $4.24, before a March 26 plunge to $0.28. Levi & Korsinsky also highlighted allegations that D. Boral Capital had handled other microcap IPOs that later suffered sharp dislocations, including Park Ha Biological Technology, Masonglory, Phoenix Asia Holding, Robot Consulting and rYojbaba, and reiterated that investors seeking lead-plaintiff status have until Sept. 8, 2026.
- lead plaintiff: The investor appointed by the court to represent the proposed class and help oversee the litigation.
- market manipulation: Conduct intended to artificially influence a security’s price or trading activity, often through misleading promotion or coordinated trading.
- microcap IPOs: Public offerings by very small companies whose shares can be especially vulnerable to sharp swings and alleged manipulation.