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 Vipshop Holdings Ltd. (NYSE: VIPS) 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 Vipshop shares while in possession of material non-public information. Specifically, the plaintiff claims that defendants knew that Archegos Capital Management failed (or was likely to fail) to meet a margin call, requiring it to fully liquidate its position in Vipshop. When the market learned the truth about Vipshop, investors suffered damages.
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.
To receive more information, please fill out the form.