Three Park Ha Biological Technology Co., Ltd. insiders who signed the December 2024 registration statement are named as individual defendants, and the lawsuit contends their control over BYAH's disclosures left shareholders exposed when the stock collapsed 93% in one session.
NEW YORK, Aug. 12, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP alerts investors in Park Ha Biological Technology Co., Ltd. (NASDAQ: BYAH) of a pending securities class action on behalf of shareholders who purchased securities between December 27, 2024 and July 8, 2025. Find out if you may qualify to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
BYAH shares fell approximately 93% on July 8, 2025, erasing more than $1 billion in market capitalization in a single trading session. To be considered for lead plaintiff, investors must file by September 28, 2026.
The Named Individual Defendants
The action names founder, Chairperson, and Chief Executive Officer Xiaoqiu Zhang, who the complaint charges controlled the Company through an entity beneficially holding more than 90% of aggregate voting power. Also named are Chief Financial Officer and director Xiaoyan Zhu, who has served as CFO since 2016, and director Li Wang, who has served since July 2023. Each of the three signed the registration statement issued in connection with the December 27, 2024 initial public offering, the pleading asserts.
Section 20(a) Control Person Framework and Certification Obligations
Claims are asserted under Section 20(a) of the Exchange Act and Section 15 of the Securities Act. For investors, the practical meaning is straightforward: officers and directors who allegedly controlled the content of the Company's public filings may be held personally responsible alongside the corporate issuer. The complaint charges that these officers, through their positions and access to non-public information, had the power and authority to control the Company's SEC reports, press releases, and presentations to the investing public, and that the certification and signature obligations attached to those filings extended to the accuracy of what was said and what was allegedly omitted.
Alleged Control Person Liability
Signing authority over the registration statement and prospectus dated December 27, 2024
Alleged control over an offering structured with only 1,200,000 public shares, under 5% of ownership
Alleged authority to correct or supplement risk disclosures that omitted known manipulative trading activity
Voting control alleged at more than 90% of aggregate power, concentrated in the founder and CEO
Alleged failure to issue any statement addressing the July 8, 2025 trading collapse
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete, and the complaint here contends that the individuals who signed Park Ha Biological Technology Co., Ltd.'s registration statement had the authority to address disclosures that allegedly omitted known manipulation risk." -- Joseph E. Levi, Esq.
Levi & Korsinsky, LLPÂ is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.
Frequently Asked Questions About the BYAH Lawsuit
Q: Who are the defendants named in the BYAH lawsuit? A: The complaint names Park Ha Biological Technology Co., Ltd. and individual defendants including senior executives who signed SEC filings, made public statements, or certified corporate disclosures, among them the Company's CEO, CFO, and a director.
Q: What court was the BYAH class action filed in? A: The case was filed in the United States District Court for the Southern District of New York, governed by the Private Securities Litigation Reform Act of 1995.
Q: Who is eligible to join the BYAH investor lawsuit? A: Investors who purchased BYAH stock or securities between December 27, 2024 and July 8, 2025 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What do BYAH investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as an absent class member.
Q: What does it cost me to participate? A: There is no upfront cost to contact the firm. Securities class actions are generally handled on a pure contingency basis, with no retainer and no out-of-pocket costs. Any attorneys' fees and expenses awarded to class counsel are subject to court approval.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.
Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.
Keep it Clean. Please avoid obscene, vulgar, lewd,
racist or sexually-oriented language. PLEASE TURN OFF YOUR CAPS LOCK. Don't Threaten. Threats of harming another
person will not be tolerated. Be Truthful. Don't knowingly lie about anyone
or anything. Be Nice. No racism, sexism or any sort of -ism
that is degrading to another person. Be Proactive. Use the 'Report' link on
each comment to let us know of abusive posts. Share with Us. We'd love to hear eyewitness
accounts, the history behind an article.
View original content to download multimedia:
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.