Golden Heaven Group Holdings Ltd. and two top executives allegedly misled investors about the poor conditions of its amusement parks and overstated the number of visitors to the parks, as well as their growth prospects, according to a shareholder class action.
The China-based company allegedly misrepresented the conditions at its parks for half a year after its April IPO, until a November short-seller report by Hindenburg Research LLC said that Golden Heaven’s parks “appear to be dystopian hellscapes,” according to the complaint filed Tuesday in US District Court for the Central District of California.
Hindenburg’s report noted that Golden ...
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