Park Ha Biological Technology Co., Ltd. faces a proposed securities class action alleging that the company failed to disclose a fraudulent stock-promotion scheme involving social-media misinformation, impersonated financial professionals and artificial trading activity. The lawsuit covers purchasers of Park Ha securities, trading as NASDAQ: PHH and BYAH, between December 27, 2024, and July 8, 2025. It further alleges that Park Ha structured its initial public offering with an extremely low public float to facilitate the alleged manipulation and that its public statements and risk disclosures omitted the rumors and trading activity affecting its share price. Rosen Law Firm said the action has been filed and that investors seeking appointment as lead plaintiff must move the Court by September 28, 2026. No class has been certified.