Core Viewpoint - Charming Medical Limited is facing a class action lawsuit due to allegations of stock price manipulation through a fraudulent promotion scheme, which led to a significant and unjustified increase in its stock price [3]. Group 1: Company Overview - Charming Medical Limited operates in the wellness sector, integrating Traditional Chinese Medicine (TCM) with modern technology to offer wellness and beauty services and products for both women and men [3]. - The company's stock is traded on NASDAQ under the symbol "MCTA" [3]. Group 2: Stock Price Manipulation Allegations - The complaint against Charming Medical alleges violations of the Securities Act due to the suspension of its stock in November 2025, following an artificial price surge [3]. - Prior to the suspension, Charming's share price rose dramatically from the IPO price of $4.00 to an all-time high of $29.36 per share, without any fundamental news to justify this increase [3]. - Investigations revealed that the stock price was inflated by a social-media-based promotion scheme involving impersonators posing as legitimate financial advisors, which created a buying frenzy among retail investors [3]. Group 3: Legal Actions and Investor Support - The Portnoy Law Firm is advising investors who purchased Charming Medical securities between October 21, 2025, and November 12, 2025, to file a lead plaintiff motion by February 17, 2026 [1]. - Investors are encouraged to contact the Portnoy Law Firm for a complimentary case evaluation and to discuss options for pursuing claims to recover losses [2].
Portnoy Law Firm Announces Class Action on Behalf of Charming Medical Limited Investors