The complaint filed by Pomerantz LLP targets Megan Holdings Limited following a dramatic market crash on March 26, 2026. Shares plummeted from an intraday high of $5.18 to close at just $0.28, prompting NASDAQ to halt trading eight times throughout the day. Investors who acquired stock during the period between September 26, 2025, and March 25, 2026, are eligible to join the action.

Allegations suggest that the stock’s surge in price and volume was fueled by a deceptive "pump" campaign. Stock promoters, reportedly posing as financial advisors on platforms like WhatsApp, allegedly used aliases and false identities to manipulate market perception. These individuals are accused of artificially inflating interest in the company while public filings remained sparse. The firm is now seeking to recover damages for those affected by these alleged fraudulent practices.