Australia Markets open in 1 hr 20 mins
  • ALL ORDS

    7,248.10
    -193.40 (-2.60%)
     
  • AUD/USD

    0.7116
    -0.0039 (-0.5401%)
     
  • ASX 200

    6,961.60
    -177.90 (-2.49%)
     
  • OIL

    87.02
    +1.42 (+1.66%)
     
  • GOLD

    1,816.10
    -36.40 (-1.96%)
     
  • BTC-AUD

    51,972.42
    +66.56 (+0.13%)
     
  • CMC Crypto 200

    843.62
    -12.19 (-1.42%)
     

Scott+Scott Attorneys at Law LLP Reminds Vipshop Investors of December 13, 2021 Deadline in Securities Class Action Against Goldman Sachs Group Inc. and Morgan Stanley (VIPS)

  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • VIPS

NEW YORK, December 06, 2021--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international shareholder and consumer rights litigation firm, has filed a securities class action lawsuit against Goldman Sachs Group Inc. ("Goldman Sachs") and Morgan Stanley ("Morgan Stanley"), alleging violations of §§20A, 10(b), and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act"), 15 U.S.C. §§78t-1, 78j(b), and 78t(a), and Securities and Exchange Commission (SEC) Rule 10b-5 promulgated thereunder, 17 C.F.R. §240.10b-5. If you purchased 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"), and have suffered significant losses, realized or unrealized, you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312 for more information. The deadline for lead plaintiff motions is December 13, 2021.

Both Goldman Sachs and Morgan Stanley are global financial services institutions that served as prime brokers for Archegos Capital Management ("Archegos"), a family office with $10 billion under management, helping Archegos make trades and lending it capital in the form of margin lending.

According to the Complaint, Goldman Sachs and Morgan Stanley sold a large amount of Vipshop shares during the Class Period while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure.

As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.

Lead Plaintiff Deadline

The Lead Plaintiff deadline in this action is December 13, 2021.

What You Can Do

If you purchased Vipshop ADSs during the Class Period, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312 or jzimmerman@scott-scott.com.

About Scott+Scott

Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.

This may be considered Attorney Advertising.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005761/en/

Contacts

Jonathan Zimmerman
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169-1820
(888) 398-9312
jzimmerman@scott-scott.com

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting