NEW YORK, Oct. 15, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Vipshop Holdings, Inc. («Vipshop» or the «Company») (NYSE: VIPS). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Goldman Sachs Group Inc. and Morgan Stanley, and certain of their officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 12, 2021, a complaint was filed in the United States District Court for the Southern District of New York alleging that Goldman Sachs Group Inc. and Morgan Stanley (collectively, «Defendants») traded while in possession of material non-public information and that: (i) 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. (ii) 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. (iii) 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.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP