Megan Holdings Limited

(NASDAQ: MGN)

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Case Details

Megan Holdings Limited

Lead Plaintiff Deadline:
September 8, 2026
Class Period:
September 29, 2025 - March 25, 2026
Jurisdiction:
New York Southern District Court
Docket Number:
1:26cv05754

Days Left to
Seek Lead Plaintiff:

22

Summary of the Action

The Class Period begins on September 29, 2025, when the Company filed its Initial Public Offering (“IPO”) Prospectus permitting Megan to issue 1,250,000 shares at an initial offering price of $4.00 per share for a total capital raise of $5 million (the “Prospectus”). I Although public filings and news were scarce regarding the Company, even as both 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 led by stock promoters posing as financial advisors. Based on information and belief, 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 and the stock has not recovered and continues to trade below $0.28. After the first minute of trading, NASDAQ halted trading Megan shares. Between 9:30 AM EDT and 10:02:01 AM EDT, Megan shares would be halted five different times only reopening for brief windows of seconds and minutes. The Company’s stock would be halted three more times throughout the day at 10:29:01 AM EDT, 10:49:37 AM EDT, and 11:10:58 AM EDT. The Company’s stock would close at just $0.28 per share with trading volume of 39,239,600. The stock has not recovered and continues to trade below $0.28.

Certification and Authorization Pursuant to Federal Securities Laws

  • The individual or entity listed below requests Wolf Haldenstein Adler Freeman & Herz LLP to file an action or motion for appointment as lead plaintiff and lead counsel under the federal securities laws to recover damages and to seek other relief against Megan Holdings Limited. Wolf Haldenstein Adler Freeman & Herz LLP will not do so until you complete a retainer agreement authorizing us to prosecute the action on a contingent fee basis.

  • I, individually or on behalf of the entity I represent ("I"), hereby certify as follows:

    1. I have reviewed the complaint and authorize the filing of a lead plaintiff motion or action on my behalf.
    2. I did not acquire the security that is the subject of this action at the direction of the Firm or in order to participate in this private action or any other litigation under the federal securities laws.
    3. I am willing to serve as a representative party on behalf of a class, including providing testimony at deposition and trial, if necessary.
    4. I represent and warrant that I am fully authorized to enter into and execute this certification.
    5. I will not accept any payment for serving as a representative party on behalf of the class beyond my pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
    6. I have made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
  • Type of SecurityBuy Date (mm/dd/yy)# of SharesPrice per Share 
  • Type of SecuritySell Date (mm/dd/yy)# of SharesPrice per Share 

Date of signing: 08/17/2026