Ostin(US:OST) Globenewswire·2026-02-24 21:43Core Viewpoint - A class action lawsuit has been filed against Ostin Technology Group Co., Ltd. for alleged securities fraud and unlawful business practices, with significant investor losses reported [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Ostin and certain officers/directors engaged in a securities fraud scheme that resulted in over $950 million in market capitalization losses for investors [2][4]. - Investors have until April 17, 2026, to request to be appointed as Lead Plaintiff if they purchased Ostin securities during the Class Period [2]. Group 2: Financial Impact - The fraudulent activities reportedly inflated Ostin's market capitalization from approximately $22 million (stock price of $0.78 on April 14, 2025) to over $1 billion (peak stock price of $9.40 on June 26, 2025) [4]. - On June 26, 2025, Ostin's stock experienced a dramatic selloff, leading to a loss of over $950 million, which is more than 94% of its market capitalization, as the stock price fell from an intraday high of $9.40 to a closing price of $0.55 [5].