A class action lawsuit has been filed against Golden Heaven Group Holdings Ltd., a company that operates a group of amusement parks in China.
The suit, led by plaintiff Jarrod Parks, alleges that the company misled investors about the actual conditions of some of their theme parks.
The lawsuit also names Qiong Jin, the CEO and Chairman of the Board of Directors for Golden Heaven, and Jinguang Gong as defendants.
The complaint states that Golden Heaven provided false information about its operations between April 13 and Nov. 13, 2023. During this period, investors were allegedly led to believe that the parks were in better condition than they actually were.
The lawsuit seeks damages for alleged violations of federal securities laws under the Securities Exchange Act of 1934.
The case was filed in the U.S. District Court for the Central District of California by attorney Laurence M. Rosen from The Rosen Law Firm, of Los Angeles, on Dec. 19.