Park Ha Biological Technology Co., Ltd. Class Action Lawsuit - BYAH

Company: Park Ha Biological Technology Co., Ltd.

Ticker: (NASDAQ) BYAH

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Lead Plaintiff Deadline: September 28, 2026

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1. I have reviewed a complaint filed in the action.

2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4. My transaction(s) in Park Ha Biological Technology Co., Ltd. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5. Within the last 3 years,

I have not sought to serve nor have I served as a class representative in any federal securities fraud case.
I have sought to serve as a class representative in

6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

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Yes. I certify under penalty of perjury that the foregoing is true and correct. Executed this
No. I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed this

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Park Ha Biological Technology Co., Ltd. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

I have reviewed the complaint linked in paragraph 1

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Class Definition

This lawsuit is on behalf of persons and entities that purchased or otherwise acquired PHH securities between December 27, 2024 and July 8, 2025, inclusive; and/or documents connecting to the Company's IPO on December 27, 2024.

Allegations

The filed complaint alleges that Park Ha Biological Technology Co., Ltd. made materially false and/or misleading statements and/or failed to disclose that: (1) PHH was the subject of a fraudulent stock promotion scheme involving social media-based misinformation and impersonated financial professionals; (2)PHH’s public statements and risk disclosures omitted any mention of the false rumors and artificial trading activity driving the stock price; (3) PHH’s IPO was intentionally structured with an extremely low public float to enable the manipulation scheme; and (4) as a result of the foregoing, defendants’ positive statements about PHH’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Eligibility

In order to be eligible to join the BYAH class action lawsuit, you must have incurred a loss on shares of Park Ha Biological Technology Co., Ltd. purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Park Ha Biological Technology Co., Ltd. during the relevant time frame or pursuant to the relevant offering(s), you have until September 28, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Park Ha Biological Technology Co., Ltd.Class Action Lawsuit Details

Key Facts About Park Ha Biological Technology Co., Ltd. (NASDAQ: BYAH)

● The Allegation: The complaint alleges Park Ha shares, then trading as PHH, were used in a fraudulent stock promotion and pump-and-dump scheme involving WhatsApp groups, social media misinformation, and impersonators posing as financial advisors. Plaintiffs claim the IPO was structured with an extremely low public float to enable manipulation while defendants made positive statements about Park Ha's business and prospects.

● The Stock Drop: Park Ha shares, then trading as PHH, fell $38.02, or approximately 93%, to $2.99 per share on July 8, 2025, following what the complaint alleges was an artificial price surge and market-manipulation scheme.

● Class Period & Defendants: The class period runs from December 27, 2024 through July 8, 2025, inclusive. Defendants are Park Ha Biological Technology Co., Ltd., Xiaoqiu Zhang (founder, Chairperson of the Board of Directors, and Chief Executive Officer), Xiaoqiu Holding Ltd., Xiaoyan Zhu (Chief Financial Officer since 2016 and director since in or around July 2024), Li Wang (director since in or around July 2023), WWC, P.C., Dawson James Securities, Inc., and D. Boral Capital LLC.

● Lead Plaintiff Deadline: September 28, 2026. Investors who wish to seek appointment as lead plaintiff must apply by the deadline.

Park Ha Biological Technology Class Action Summary
Company	Park Ha Biological Technology Co., Ltd. (NASDAQ: BYAH; formerly NASDAQ: PHH)
Lead Plaintiff Deadline	September 28, 2026
Class Period	December 27, 2024 - July 8, 2025
Stock Drop	July 8, 2025 - Park Ha shares, then trading as PHH, fell $38.02 (approximately 93%) to $2.99

Introduction

A securities class action lawsuit has been filed against Park Ha Biological Technology Co., Ltd. The case seeks to represent persons and entities that purchased or otherwise acquired Park Ha ordinary shares on the Nasdaq Stock Market between December 27, 2024 and July 8, 2025, inclusive, and were damaged. The shares traded under the ticker PHH during the relevant period.

The complaint alleges defendants made materially false and misleading statements about Park Ha's business and the trading activity in PHH shares. Plaintiffs allege defendants failed to disclose a pump-and-dump promotion involving WhatsApp groups and impersonators posing as financial advisors.

Park Ha shares rose from the $4.00 IPO price to an intraday high of $41.49 on July 7, 2025. The next day, the shares fell about 93% to $2.99 per share.

Company Profile

At the time of its IPO, Park Ha Biological Technology Co., Ltd. was a Cayman Islands holding company whose operating subsidiaries conducted business in China. The company developed and sold skincare and cosmetic products under the "Park Ha" brand, operated directly owned stores, provided complimentary after-sales beauty services, and managed a franchise beauty-store model.

Class Period

December 27, 2024 – July 8, 2025

Investors who purchased Park Ha Biological Technology Co., Ltd. securities during the class period might be eligible to seek recovery under the Park Ha Biological Technology Co., Ltd. securities class action lawsuit.

Allegations

The complaint alleges that Park Ha and other defendants made materially false and misleading statements and failed to disclose material adverse facts about the company's business, operations, prospects, and the true nature of trading in PHH securities. Plaintiffs claim the alleged misconduct began with the company's December 27, 2024 IPO Prospectus, which permitted the Company to issue 1,200,000 ordinary shares at $4.00 per share, raising approximately $4.8 million.

According to the complaint, the Prospectus described Park Ha’s China-based skincare and cosmetics business, its franchise model, its financial results, and its growth strategies, including product development, franchisee training, social media-based marketing, and supply-chain expansion. The lawsuit claims those statements were misleading because they failed to disclose that Park Ha shares were allegedly subject to a market-manipulation and fraudulent-promotion scheme involving social media misinformation and impersonators posing as financial professionals.

Plaintiffs also allege the Registration Statement and Prospectus used boilerplate risk disclosures about small-float IPO volatility while omitting the known risk that PHH stock was allegedly vulnerable to, or already tied to, a coordinated manipulation scheme. The complaint says the IPO offered only 1,200,000 shares to the public while insiders retained more than 95% of the shares, creating a low public float that allegedly made even modest buying pressure capable of producing dramatic price moves.

The lawsuit further alleges that WhatsApp groups were used to push PHH shares to retail investors. Participants were allegedly told that PHH would benefit from a yet-to-be-announced partnership with L'Oreal and that the stock could rise 200% to 300%, even though the complaint claims those statements had no legitimate basis in Park Ha's actual operations or financial condition.

The Truth Emerges

The complaint says PHH’s share price rose sharply in late June and early July 2025 without corresponding material corporate developments, financial results, or other news. By June 30, 2025, the stock closed at $34.99, and on July 7, 2025, PHH closed at $41.01 after reaching an intraday high of $41.49 on trading volume of more than 1.3 million shares.

Beginning on June 18, 2025, participants in the WhatsApp groups were allegedly instructed to buy PHH shares, and those instructions continued through July 8, 2025. The complaint alleges victims were directed to buy PHH after encountering Facebook or Instagram ads for stock training or advice, then being funneled into groups where scammers impersonated legitimate financial advisors.

PHH shares collapsed on July 8, 2025, during the final day of the alleged promotion. Plaintiffs claim the company did not release a press release or statement addressing the highly unusual trading patterns or the losses suffered that day, and later changed its ticker from PHH to BYAH effective October 28, 2025.

Market Reaction

PHH shares fell from the prior day's close of $41.01 to $2.99 per share on July 8, 2025, a decline of $38.02, or approximately 93%. The complaint states that trading volume exceeded 8.9 million shares that day and that the drop wiped out nearly $1 billion in market capitalization.

The July 8 closing price of $2.99 was approximately 25% below the $4.00 IPO offering price. The decline followed a rapid rise from the offering price to an all-time intraday high of $41.49 on July 7, 2025, which plaintiffs allege was not supported by material corporate developments or legitimate business prospects.

Next Steps

● Lead Plaintiff Deadline: September 28, 2026

● After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.

● Defendants may file a motion to dismiss.

● If the case proceeds, the Court may later consider class certification.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. Prior results do not guarantee similar outcomes.