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GDHG.US
id: 918
Golden Heaven Group Holdings ($GDHG) $1.7 Million Investor Settlement
Eligible claimants can submit their claims for compensation.
$1,700,000
Cash SettlementC.D. California
Court2:23-cv-10619
Case number04/13/2023
Class period Start12/08/2023
Class period End09/03/2026
Claim deadlineGolden Heaven Group Holdings has agreed to a proposed $1.7 million settlement to resolve investor claims that it misled the market about its amusement-park business, including attendance levels and facility conditions, in its IPO materials and later statements.
Outline:
On April 12, 2023, Golden Heaven went public while presenting its park business and key metrics favorably to investors. On November 13, 2023, Hindenburg said the company had misled investors about attendance, park conditions, and the state of its business. $GDHG fell 27.9% on that news as investors challenged the company’s story. On April 28, 2026, the parties entered into a proposed $1.7 million settlement.
Timeline:
- April 12, 2023: Golden Heaven conducted its IPO.
- November 13, 2023: Hindenburg Research posted on X that Golden Heaven had misled investors about its park business, including attendance and facility conditions. $GDHG fell 27.9% on the news.
- December 8, 2023: The first securities action was filed in New York state court.
- December 19, 2023: The federal securities action was first filed in California.
- March 3, 2025: The federal court denied defendants’ motions to dismiss.
- April 28, 2026: The parties signed the settlement stipulation.
- September 3, 2026: Deadline to submit a claim
Background:
Golden Heaven went public in April 2023 as an amusement-park operator in China. Investors later said the company’s public story about its parks and business metrics did not match conditions on the ground.
On November 13, 2023, Hindenburg published posts on X accusing Golden Heaven of lying to investors about the state of its park business. The report challenged the company’s attendance claims, said its facilities showed deterioration, and said site visits to all six parks showed extremely low attendance.
The report also raised concerns about the company’s leadership and the firms tied to the offering. Investors say those issues, together with the park findings, showed that Golden Heaven had misled the market about attendance rates, facility conditions, and the real condition of its amusement-park operations.
$GDHG fell 27.9% after the report. Investors then pursued state and federal securities claims, and the parties have now agreed to a proposed $1.7 million settlement.
What Can Investors Expect Now?
Golden Heaven Group Holdings has agreed to a proposed $1.7 million settlement to resolve investor claims that it misled the market about its amusement-park business, including attendance levels and facility conditions, in its IPO materials and later statements.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section.
Case Type
US Securities Class Action
Case Status
Accepting Claims
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Payout per Share
0.18
Filing date
12/19/2023
Lead Plaintiff Deadline
02/19/2024
Plaintiffs
Jarrod Parks
Attorneys
The Rosen Law Firm, P.A. (Los Angeles, CA)
Defendants
Qiong Jin, Jinguang Gong
Judge
Hon. Christina A. Snyder
Administrator
Strategic Claims Services
Court hearing date
09/24/2026
Exclusion deadline
09/03/2026
Objection deadline
09/03/2026
Hearing deadline
09/03/2026
Attorney fee
$736,661
Trades matching type
FIFO
Frequently Asked Questions
Who is eligible for this settlement?
Do I have to sell securities to be eligible?
How long does the payout process take?
How much will my payment be?
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