Portnoy Law Firm Announces Class Action on Behalf of Megan Holdings Limited Investors

LOS ANGELES, July 09, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Megan Holdings Limited, (“Megan” or the "Company") (NASDAQ: MGN) investors of a class action on behalf of investors that bought securities between September 26, 2025 - March 25, 2026, inclusive (the “Class Period”). Megan investors have until September 8, 2026 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/megan-holdings-limited. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

On or around September 26, 2026, Megan conducted its initial public offering (“IPO”), selling 1.25 million ordinary shares priced at $4.00 per share. A Complaint has been filed on behalf of investors who purchased Megan shares (i) pursuant and/or traceable to the IPO, and/or (ii) between September 26, 2025 and March 25, 2026 (the “Class Period”). The Complaint specifically alleges that, although public filings and news regarding the Company were scarce following the IPO, even as both the stock price and trading volume surged throughout the Class Period, a coordinated effort was made on social media and messaging applications, such as WhatsApp, to “pump” Megan’s share price, led by stock promoters posing as financial advisors. The Complaint alleges that these stock promoters used aliases and false photographs to conceal their true identities and were key cogs in the stock manipulation scheme surrounding Megan. On March 26, 2026, the Company’s market value collapsed 93.4% to close at $0.28 per share, down from $4.24 per share at close (and $5.18 per share at intraday high) on March 25, 2026. On March 26, 2026, after the first minute of trading, NASDAQ halted trading of Megan shares. Between 9:30 AM EDT and 10:02:01 AM EDT, trading in Megan shares would be halted five separate times, only reopening for brief windows of seconds and minutes. The Company’s stock would also be halted three additional times throughout the day at 10:29:01 AM EDT, 10:49:37 AM EDT, and 11:10:58 AM EDT. As of the filing of the Complaint, Megan’s stock had not recovered and continued to trade below $0.28 per share.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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