Confirmed Claimant: Mind Bend Theory Advances Legal Action Against GCT

Mind Bend Theory has officially received confirmation of our legal participation in the ongoing securities class action lawsuit against GigaCloud Technology Inc. (NASDAQ: GCT). We have now been formally recognized as a claimant in the federal case, which alleges material misrepresentations and market manipulation surrounding GCT’s IPO.

The confirmation arrived via email titled:

“Confirmation: GigaCloud Securities Litigation Proof of Claim and Release.”

This communication signifies Our claim has been successfully filed, processed, and accepted by the settlement administrators.

What This Means:

Jurisdiction Accepted: We have formally submitted to the jurisdiction of the court managing the litigation. This is a legal requirement for all claimants seeking damages from the settlement fund.

Acknowledgment of Terms: We have agreed to the conditions outlined in the Proof of Claim and Release. This includes acknowledging the scope of the class action, waiving any future individual claims relating to the matter, and accepting any rulings rendered by the court.

Claimant Status Secured: Our participation is now legally acknowledged, ensuring Mind Bend Theory will be included in any financial resolution resulting from this lawsuit.

Note: For privacy and security, our unique form ID has been redacted.

This case revolves around allegations that GigaCloud and its affiliates misled investors about the true condition and risk factors of the IPO, which resulted in sudden and abnormal trading behaviors — behaviors Mind Bend Theory flagged early and publicly.

From the outset, we suspected irregularities. We observed unexplained order removals, broker communication delays, and a coordinated suppression of buy-side activity during the IPO. Despite initial claims that the underwriter was responsible, our direct outreach and cross-broker investigations suggested a broader pattern of manipulation, possibly involving concerns over a potential retail lock-up of the float — a scenario similar to what was seen with AMC.

Mind Bend Theory remains committed to holding market participants accountable and advocating for fairness in public offerings. We will continue tracking this case closely and will publish additional updates as they unfold.