A class action lawsuit has been filed against Megan Holdings Limited on behalf of investors who purchased securities between September 26, 2025, and March 25, 2026. The complaint, filed in the United States District Court for the Southern District of New York, alleges that the company's IPO prospectus contained materially inadequate risk disclosures, framing existing internal control weaknesses and a pattern of manipulation-linked IPOs by its sole underwriter as hypothetical future possibilities. It further alleges that Megan was used in a pump-and-dump scheme that drove shares up more than 400% before a 93.4% single-day collapse on March 26, 2026. Named defendants include the company, CEO Darren Hoo, CFO Ng Kai Tie, auditor WWC, P.C., and underwriter D. Boral Capital LLC. The lead plaintiff deadline is September 8, 2026.
Megan Holdings LimitedClass action lawsuit alleging inadequate IPO disclosures and pump-and-dump scheme.
Named as underwriter in lawsuit alleging manipulation-linked IPOs.