The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Tencent Music Entertainment Group (NYSE: TME) securities between March 22, 2021 and March 29, 2021.
According to a filed complaint, Goldman Sachs Group Inc. and Morgan Stanley avoided billions of dollars in losses by selling Tencent Music shares while in possession of material non-public information. Specifically, the plaintiff claims that defendants knew that Archegos Capital Management would need to fully liquidate its position in Tencent Music based on margin call pressures. When the market learned the truth about Tencent Music, investors suffered damages.
If you suffered a loss in Tencent Musicn you have until December 27, 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.
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