IlluMyFi

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $25,000 In Golden Heaven To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $25,000 investing in Golden Heaven stock or options between April 13, 2023 and November 13, 2023 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/GDHG. New York, New York--(Newsfile Corp. - January 7, 2024) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Golden Heaven Group Holdings Ltd. ("Golden Heaven" or the "Company") (NASDAQ: GDHG) and reminds investors of the February 20, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Golden Heaven's amusement parks are in generally poor condition; (2) Golden Heaven materially overstated the number of visitors to its amusement parks and overall growth prospects, and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. On November 13, 2023, during market hours, Hindenburg Research revealed that it was shorting Golden Heaven stock. In pertinent part, Hindenburg stated that Golden Heaven's "claimed high-tech parks in China appear to be dystopian hellscapes." Further, Hindenburg stated that it had "major doubts about Golden Heaven's reported financials given the difference between its reported park activity and observable reality, and given the undisclosed fraud allegations & issues facing its Chairwoman & CEO." On this news, Golden Heaven's stock price fell $6.63 per share, or 27.92%, to close at $17.12 on November 13, 2023. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Golden Heaven's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193347

Sentiment

Bearish/Bullish

13.01.24 01:26

by markets.businessinsider.com

Falling stocks, recession, and historic debt: Here's the bear case for markets a...

By clicking "Sign Up", you accept our Terms of Service and Privacy Policy. You can opt-out at any time. Record-high S&P 500 year-end targets and soft-landing calls for 2024 suggest Wall Street is optimistic for what's to come. But market veterans caution the bear case is still alive. There's a chance the full effects Federal Reserve's restrictive policy haven't fully materialized yet, and experts say there are still plenty of hazards that could arise even as the central bank starts to think about cutting rates. Stubborn inflation, rising US debt, and a fatigued US consumer, among other factors, could tip the economy into a recession -- and hurt the stock market along the way. The latest inflation data, for starters, showed consumer prices unexpectedly moved higher in December to 3.4% year-over-year, above the prior month's 3.1%. That's muddled the outlook for Fed policy and tempered expectations for rate cuts as soon as March. "What's most important is that it's now very clear that a recession is not needed to bring inflation down to 2%, so any recession that occurs would be a mistake committed by the Fed," Morningstar chief economist Preston Caldwell told Business Insider. "And it would be a mistake that would be corrected quickly by rapid and deep rate cuts," he added. Should lagged rate-hiking effects indeed catch up to the economy, hiring would slow down, unemployment would rise, and consumption would ultimately decline, according to Allianz's senior investment strategist, Charlie Ripley. "The feedback loop to equity markets would be a decline in profit margins and lead to a decline in broad equity indices," Ripley told Business Insider. "In order for this to happen, we would have to see unemployment rise well above 4% and somewhere close to the 5% level." Historical data suggests stock market returns are mixed during a downturn. Of the 31 recessions that have struck the US since the Civil War, equities saw positive returns in about half of those instances. It's also worth noting that stock market returns have been highly concentrated in the Magnificent Seven mega-cap stocks in the last year, and a significant dip in those names could result in a strong move down for the broader market. Americans have effectively blown through all their savings from the pandemic, and a spending slowdown may already be underway. Credit card delinquencies are surging, people are saving less, and consumer confidence is tepid. Even retail hiring took a dip during the holidays, which suggests businesses are also turning cautious. "While the economy seems strong based on backward-looking data, it's quite fragile if the consumer pulls back," said Sal Naro, the chief investment officer of Coherence Credit Strategies. "That pullback would result in businesses reducing capital expenditures and employee headcount to limit profit margin deterioration, further exacerbating consumer spending weakness and creating a vicious downwards cycle." But it isn't just households. The government is racking u...