Wolf Haldenstein Files Class Action Lawsuit Against Megan Holdings Limited

NEWSWIRE – New York, NY – July 9, 2026

The law firm Wolf Haldenstein Adler Freeman & Herz LLP has filed a class action lawsuit against Megan Holdings Limited (NASDAQ: MGN). The lawsuit is on behalf of investors who purchased or acquired the Company's securities between September 26, 2025, and May 25, 2026, inclusive, or in connection with the registration statement and prospectus issued for the Company's initial public offering (IPO).

Investors have until September 8, 2026, to file a motion to serve as lead plaintiff in the action. The complaint alleges that Megan Holdings Limited, a Cayman Islands-incorporated holding company with principal executive offices in Kuala Lumpur, Malaysia, made false or misleading statements. These alleged misrepresentations impacted investors during the class period and possibly in connection with the IPO documents.

The Company's IPO occurred on September 26, 2025, issuing 1.25 million shares at $4.00 per share, raising $5 million. During the class period, the stock price and trading volume surged. The lawsuit claims stock promoters, posing as financial advisors and using aliases and false photographs, engaged in a coordinated effort on social media and messaging applications to manipulate the stock.

On March 26, 2026, Megan's market value plummeted by 93.4%, closing at $0.28 per share, down from $4.24 per share the previous day. NASDAQ halted trading of Megan shares multiple times throughout that day due to extreme volatility in brief windows of seconds and minutes.

Wolf Haldenstein Adler Freeman & Herz LLP, founded in 1888, is noted for its expertise in securities litigation. The firm encourages any investors who suffered financial loss or have information relevant to the investigation to contact them.