Baosheng Media Group Holdings Ltd (BAOS) has released an update.
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Baosheng Media Group Holdings Ltd is currently facing a legal challenge as Orient Plus International Limited has filed a winding up petition, alleging unfair and oppressive management practices towards minority shareholders. The dispute stems from a $10 million securities purchase made by two institutional investors, including the petitioner, in March 2021. Baosheng Media, however, is contesting the petition, asserting that it lacks merit and is prepared to defend itself vigorously in court.
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