Vipshop Holdings Ltd. (VIPS)
Class Action & Lead Plaintiff Deadline: December 13, 2021
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Goldman Sachs Group Inc. (“Goldman Sachs”) and Morgan Stanley (“Morgan Stanley”) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Vipshop Holdings Ltd. (“Vipshop” or the “Company”) (NYSE: VIPS) American Depository Shares (ADS) between March 22, 2021 and March 29, 2021, inclusive (the “Class Period”).
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants traded while in possession of material non-public information and that: (1) Defendants obtained the material non-public information pursuant to their agreements with Archegos Capital Management's ("Archegos") and as a result of their serving as prime brokers of Archegos. (2) Defendants knew, recklessly disregarded, or should have known that they owed a fiduciary duty, or obligation arising from a similar relationship of trust and confidence, to Archegos to keep the information confidential. (3) Nevertheless, while in possession of material, non-public adverse information, Defendants collectively sold billions of dollars' worth of Company shares. Later, when the information became publicly known, the price of the Company's common stock declined sharply as a result of such disclosure.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Vipshop you have until December 13, 2021, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.