INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Megan Holdings Limited of Class Action Lawsuit and Upcoming Deadlines - MGN

NEW YORK, July 9, 2026 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Megan Holdings Limited ("Megan" or the "Company") (NASDAQ: MGN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

The class action concerns whether Megan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

You have until September 8, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Megan stock pursuant and/or traceable to its IPO and/or during the Class Period (as defined below). A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On or around September 26, 2026, Megan conducted its initial public offering ("IPO"), selling 1.25 million ordinary shares priced at $4.00 per share. A Complaint has been filed on behalf of investors who purchased Megan shares (i) pursuant and/or traceable to the IPO, and/or (ii) between September 26, 2025 and March 25, 2026 (the "Class Period"). 

The Complaint specifically alleges that, although public filings and news regarding the Company were scarce following the IPO, even as both the stock price and trading volume surged throughout the Class Period, a coordinated effort was made on social media and messaging applications, such as WhatsApp, to "pump" Megan's share price, led by stock promoters posing as financial advisors. The Complaint alleges that these stock promoters used aliases and false photographs to conceal their true identities and were key cogs in the stock manipulation scheme surrounding Megan. 

On March 26, 2026, the Company's market value collapsed 93.4% to close at $0.28 per share, down from $4.24 per share at close (and $5.18 per share at intraday high) on March 25, 2026. On March 26, 2026, after the first minute of trading, NASDAQ halted trading of Megan shares. Between 9:30 AM EDT and 10:02:01 AM EDT, trading in Megan shares would be halted five separate times, only reopening for brief windows of seconds and minutes. The Company's stock would also be halted three additional times throughout the day at 10:29:01 AM EDT, 10:49:37 AM EDT, and 11:10:58 AM EDT. 

As of the filing of the Complaint, Megan's stock had not recovered and continued to trade below $0.28 per share.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP