Levi & Korsinsky LLP
03/27/2026 | Press release | Distributed by Public on 03/27/2026 08:01
Pump, Place, Profit? OST Hit With Lawsuit Over Alleged Share Inflation Plot
Ostin Technology told investors it was building a high growth display business. A Nasdaq listed company. New capital. Big opportunity.
According to a criminal indictment, prosecutors say it was something else entirely. A carefully orchestrated pump and dump.
In April 2025, Ostin closed a $5 million stock offering at a steep discount. Weeks later, insiders exchanged warrants for more than 70 million shares at zero cost. Then starting in May, social media promotions and WhatsApp groups pushed the stock hard. The price exploded from $0.78 in mid April to $9.40 by June 26. That is a surge of more than 1,000%.
Then came the dump.
On June 26, the stock collapsed 94% in a single day. Nearly $950 million in market value vanished.
Now, stunned investors are fighting back. More shareholders are joining the lawsuit.
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