NEW YORK, October 13, 2021 (GLOBE NEWSWIRE) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Vipshop Holdings Ltd. (âVipshopâ or the âCompanyâ) (NYSE: VIPS) and reminds investors of the December 13, 2021 deadline to apply for the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you have suffered losses exceeding $ 50,000 invested in Vipshop actions or options between March 22, 2021 and March 29, 2021 and want to discuss your legal rights, call partner Faruqi & Faruqi Josh Wilson directly To 877-247-4292 Where 212-983-9330 (Ext. 1310). You can also click here for more information: www.faruqilaw.com/VIPS.
There is no cost or obligation for you.
Faruqi & Faruqi is a leading national minority and women-owned securities law firm, with offices in New York, Delaware, Pennsylvania, California and Georgia.
The complaint alleges that throughout the Class Period, the Defendants negotiated while in possession of material non-public information and that: (1) The Defendants obtained material non-public information in accordance with their agreements with Archegos Capital Management (âArchegosâ) and as a result of their function as principal intermediary of Archegos. (2) The defendants knew, recklessly ignored, or should have known that they owed a fiduciary duty, or an obligation arising from a similar relationship of trust and confidence, to Archegos to keep the information confidential. (3) Nonetheless, while in possession of material and non-public adverse information, the Defendants collectively sold billions of dollars of Company stock. Later, when the information became public, the price of the Company’s common shares fell sharply as a result of this disclosure.
The principal plaintiff appointed by the court is the investor with the greatest financial interest in the remedy sought by the group, who is adequate and typical of the members of the group who are directing and supervising the litigation on behalf of the putative group. Any putative class member can propose to the court to serve as lead plaintiff through any lawyer they choose, or they can choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as the principal applicant.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Vipshop’s conduct to contact the company, including whistleblowers, former employees, shareholders, and others.
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