CIGL Shareholders - Lead Plaintiff Deadline: May 18, 2026

Concorde International Group, Ltd. Class Action Lawsuit – CIGL

Introduction to Concorde International Group, Ltd. (CIGL) Securities Class Action Lawsuit

A securities fraud class action under the Securities Exchange Act of 1934 and Rule 10b-5 has been filed against Concorde International Group, Ltd. (NASDAQ: CIGL), a British Virgin Islands company whose Class A Ordinary Shares trade on the NASDAQ Capital Market under the ticker CIGL and certain officers, directors, auditors, and underwriters for the period between April 21, 2025, and July 14, 2025. Investors allege that defendants misrepresented the legitimacy of the company’s securities trading activity and concealed that Concorde International Group, Ltd. was the subject of a fraudulent stock promotion scheme involving social media-based misinformation targeting retail investors and impersonated financial professionals. Behind the scenes, insiders and affiliates allegedly used offshore or nominee accounts to facilitate the coordinated dumping of shares through artificial trading activity during a price inflation campaign. In July 2025, Concorde International Group, Ltd.’s stock fell approximately 80% in a single day. The complaint alleges the decline occurred after a dramatic run-up that plaintiff contends was tied to a fraudulent stock-promotion scheme later discussed in media reports and broader regulatory actions concerning similar foreign micro-cap trading patterns.

Concorde International Group, Ltd. (CIGL) Securities Lawsuit Case Details

Case Name: Parthasarathy Krishnamoorthy v. Concorde International Group, Ltd., et al.

Case No.: 1:26-cv-02283

Jurisdiction: U.S. District Court, Southern District of New York

Filed on: March 19, 2026

Concorde International Group, Ltd. (CIGL) Company Profile

Concorde International Group, Ltd. claims to be an integrated security services provider headquartered in Singapore , incorporated in the British Virgin Islands and operating as a foreign private issuer that files Form 20-F annual reports that combines physical manpower and innovative technology to deliver security solutions, with Class A Ordinary Shares listed on Nasdaq under ticker CIGL, with approximately 97-99% of revenues purportedly derived from its i-Guarding Services consisting of electronic security systems and mobile patrols.

Concorde International Group, Ltd. (CIGL) Securities Lawsuit Class Period

April 21, 2025 – July 14, 2025, inclusive.

All persons and entities that purchased or otherwise acquired Concorde International Group, Ltd. securities including Class A Ordinary Shares during the Class Period and who were damaged thereby may be eligible to join the Concorde International Group, Ltd. (CIGL) class action lawsuit.

Allegations in the Concorde International Group, Ltd. (CIGL) Securities Class Action Lawsuit

The complaint targets Concorde International Group, Ltd., its Chief Executive Officer and Chairman Swee Kheng Chua, Chief Financial Officer Sze Yin Ong, Directors Terence Wing Khai Yap and Mark Allen Brisson, auditor Kreit and Chiu CPA, LLP, underwriter R.F. Lafferty & Co., Inc., and agent Cogency Global Inc. for allegedly orchestrating or enabling a pump-and-dump scheme and making materially false and misleading statements and omissions in violation of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.

On April 21, 2025, Concorde International Group, Ltd. completed its initial public offering at $4.00 per share on the NASDAQ Capital Market, with the IPO prospectus touting the company as an award-winning integrated security services provider with 113% revenue growth from 2022 to 2023 and strong recurring contract revenue. The prospectus highlighted that i-Guarding Services accounted for over 98% of consolidated revenues and emphasized the company’s technological innovation and market leadership in Singapore , while omitting adverse material facts about artificial trading activity and stock promotion.

During the following weeks, CEO Swee Kheng Chua issued statements reinforcing this optimistic narrative. On May 16, 2025, he described 2024 as a transformative year culminating in the successful IPO that raised $5.75 million in gross proceeds, claiming the milestone validated the business model and provided capital to accelerate growth without disclosing the alleged stock promotion driving trading activity. He projected strong year-over-year growth driven by high-margin recurring revenue from i-Guarding services and announced plans to expand internationally into Malaysia, Australia, and North America over the next 24 months , statements investors allege were misleading in light of undisclosed artificial trading activity.

On June 17, 2025, Chua announced that the company had secured more than $9 million in new contracts through May 2025, already surpassing the total value of contracts signed in all of 2024, stating this validated market confidence in Concorde International Group, Ltd.’s solutions , which investors allege ignored the effects of a coordinated stock promotion campaign on price and volume.

Investors allege that these positive statements omitted the material fact that Concorde International Group, Ltd. was the subject of a fraudulent stock promotion scheme and failed to disclose artificial trading activity driving the stock price. The complaint alleges that social media ads were being used to mass target retail investors in different countries, pushing them to join Telegram and WhatsApp groups where impersonators posing as financial professionals instructed them to buy Concorde International Group, Ltd. stock and hold for five days for guaranteed returns. Meanwhile, insiders and affiliates allegedly used offshore or nominee accounts to facilitate the coordinated dumping of shares as the stock price artificially inflated from $4.00 to over $31.00. The auditor Kreit and Chiu allegedly issued fraudulent audit opinions that enabled the scheme, while underwriter R.F. Lafferty failed to conduct adequate due diligence before bringing the company public.

The Truth Emerges

The alleged fraud began to surface on June 16, 2025, when the Wall Street Journal published an article titled “Obscure Chinese Stock Scams Dupe American Investors by the Thousands” describing similar social-media-driven stock-promotion schemes involving low-float Nasdaq-listed companies.

On July 10, 2025, Concorde International Group, Ltd.’s stock price abruptly crashed approximately 80% to $5.66 on the NASDAQ market. The complaint alleges that investigations and public reports later detailed how CIGL stock had been used in an alleged pump-and-dump promotion scheme. That same day, TradeInformer published an exclusive article titled “Pump and dump scammers target Concorde International Group at market open Thursday” detailing the parallels between the Concorde International Group, Ltd. fraud and a similar scheme involving Ostin Technology. The article revealed that brokers such as DEGIRO had restricted access to Concorde International Group, Ltd. stock after recognizing it as a fraud, and explained how perpetrators used social media ads to push investors into Telegram and WhatsApp groups where they were instructed to buy stock and hold for five days.

On July 17, 2025, The Bear Cave published “Problems in Chinatown” identifying Concorde International Group, Ltd. as part of a broader pattern of fraudulent Chinese micro-cap IPOs. Later in 2025, Nasdaq, the SEC, DOJ, and the Public Company Accounting Oversight Board (“PCAOB”) announced actions addressing similar foreign micro-cap manipulation concerns and related gatekeeper issues, which the complaint cites as broader context.

On September 3, 2025, Nasdaq issued a press release proposing changes to its listing standards in response to emerging patterns associated with potential pump-and-dump schemes, including a $15 million minimum market value of public float and a $25 million minimum public offering proceeds requirement for companies principally operating in China.

On September 5, 2025, the SEC announced formation of a Cross-Border Task Force to Combat Fraud, specifically identifying auditors and underwriters as gatekeepers who enable pump-and-dump schemes perpetrated by foreign-based companies including those from China.

On September 12, 2025, the DOJ indicted Ostin Technology’s Co-CEO and a financial advisor for orchestrating a social media-based pump-and-dump scheme with virtually identical characteristics to Concorde International Group, Ltd.’s, alleging defendants inflated market capitalization from $22 million to over $1 billion while fraudulently obtaining more than $110 million in proceeds.

On December 4, 2025, the PCAOB sanctioned Ostin Technology’s auditor TPS Thayer, LLC for audit-related violations. The complaint cites that action, together with SEC commentary about the role of gatekeepers such as auditors and underwriters, as part of its broader theory of liability.

Market Reaction

Concorde International Group, Ltd.’s stock price surged from its April 21, 2025 IPO price of $4.00 to an all-time intraday high of $31.06 on July 9, 2025, despite no fundamental news justifying the spike. On July 10, 2025, following exposure of the pump-and-dump scheme, Concorde International Group, Ltd.’s share price abruptly crashed approximately 80% to close at $5.66, down from the previous day’s closing price of $28.18. Since the crash, the company’s share price has continued to decline to approximately $2.00, representing a loss of over 93% from the peak and 50% below the IPO price, leaving retail investors with steep losses.

Next Steps

●      The Court will issue its order for lead plaintiff and counsel in the weeks after submissions are due.

●      The Court will then consider motion for class certification.

●      The Court will later consider a Motion to Dismiss.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. No specific outcomes are guaranteed.

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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 Concorde International Group, 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,
  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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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 Concorde International Group, 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.

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