Investors Face September 28 Deadline in Park Ha Biological Class Action

The litigation, pending in the United States District Court for the Southern District of New York, centers on claims that Park Ha’s December 2024 registration statement failed to disclose that its public float was intentionally limited. By restricting public shares to 1,200,000—less than 5% of the total—the company allegedly created conditions for coordinated price manipulation. While insiders retained 95% of the voting power, the prospectus presented the risk of extreme price volatility as merely a hypothetical possibility rather than an existing operational reality.

Following an IPO priced at $4.00, shares of BYAH reached an intraday high of $41.49 on July 7, 2025. By the following day, the stock plummeted to $2.99. The complaint asserts that underwriters and auditors failed to provide a reasonable basis for the registration statement, which omitted references to organized social media promotional activity. Investors who purchased shares between December 27, 2024, and July 8, 2025, are eligible to join the action, regardless of whether they currently hold the stock.