NEW YORK, April 27, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP alerts investors in ChowChow Cloud International Holdings Limited (NYSE American: CHOW) of a pending securities class action naming three senior officers as individual defendants. Class Period: September 16, 2025 through December 10, 2025. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com | (212) 363-7500.
CHOW shares collapsed 84.3%, falling $9.87 per share to close at $1.83 on December 10, 2025, after NYSE American halted trading twice due to volatility from an alleged market manipulation scheme. The Court has set May 12, 2026 as the deadline to apply for lead plaintiff appointment.
The Named Individual Defendants
The securities class action names three officers who signed the Registration Statement filed in connection with CHOW's September 2025 IPO:
- Yee Kar Wing served as Chief Executive Officer and Chairman of the Board of Directors throughout the Class Period
- Hui Wai Ming served as Chief Operating Officer throughout the Class Period
- Wong Chung Wai served as Chief Financial Officer throughout the Class Period
The complaint charges that each Individual Defendant possessed the power and authority to control the contents of the Company's SEC filings, press releases, and public statements.
Section 20(a) Control Person Framework
Section 20(a) of the Securities Exchange Act of 1934 imposes liability on individuals who controlled a person or entity that violated securities laws. The action contends that as CHOW's most senior officers, Wing, Ming, and Wai had the ability, opportunity, and obligation to prevent the issuance of misleading statements or to promptly correct them. Each defendant signed the Registration Statement that the complaint alleges contained material misstatements and omissions.
Sarbanes-Oxley Certification Obligations
The complaint asserts that the Individual Defendants were provided with copies of the Company's public filings prior to or shortly after issuance, and that because of their positions and access to material non-public information, they knew adverse facts had not been disclosed to the investing public. As signatories to the Registration Statement, each bore personal responsibility for the accuracy of the disclosures contained within it.
- The Registration Statement allegedly omitted that CHOW was the target of a coordinated market manipulation and pump-and-dump scheme
- The Individual Defendants allegedly failed to disclose that the sole IPO underwriter, Tiger Securities, had been fined and censured by FINRA in April 2025
- The complaint contends positive statements about the Company's business and prospects lacked a reasonable basis given the undisclosed manipulation activity
- The filing states that each defendant had the power to prevent issuance of the allegedly fraudulent SEC filings or cause them to be corrected
Speak with an attorney about recovering damages or call (212) 363-7500.
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When officers sign registration statements, they bear personal responsibility for the truthfulness of those disclosures, and the allegations here raise serious questions about whether that responsibility was met." -- Joseph E. Levi, Esq.
Submit your information to join the recovery or contact Joseph E. Levi, Esq. at (212) 363-7500.
Levi & Korsinsky, LLP -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
