Pomerantz LLP announced that a securities class action has been filed against Megan Holdings Limited (NASDAQ: MGN), alleging securities fraud and other unlawful business practices. The complaint covers investors who bought shares in Megan’s IPO or between September 26, 2025, and March 25, 2026. It alleges that stock promoters posing as financial advisers used aliases, false photographs, social media and messaging applications including WhatsApp to promote and manipulate the shares while company filings and news remained scarce. Megan sold 1.25 million ordinary shares at $4.00 each in its IPO. On March 26, 2026, the stock closed at $0.28, compared with $4.24 at the prior close and an intraday high of $5.18, while Nasdaq halted trading eight times. Investors have until September 8, 2026, to seek appointment as lead plaintiff. The release separately dates the IPO to around September 26, 2026, creating a chronology that conflicts with the stated 2025-26 class period and March 2026 trading events.