The complaint alleges that Park Ha’s stock price was artificially inflated through a pump-and-dump operation involving social media misinformation and individuals impersonating financial professionals. After the company’s IPO, the stock price surged from $4.00 to a peak of $41.49 on July 7, 2025. This dramatic climb occurred despite a lack of material corporate developments or legitimate business prospects, according to the filing.

Pomerantz LLP is spearheading the litigation, investigating whether the company’s officers or directors participated in securities fraud or unlawful business practices. The firm is currently seeking to appoint a Lead Plaintiff for the class. Affected investors are encouraged to contact Danielle Peyton at Pomerantz LLP to provide details regarding their share purchases as the court proceedings move forward.