WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Vipshop Holdings Limited (NYSE: VIPS) between March 22, 2021 and March 29, 2021, inclusive (the "Class Period"), of the important December 13, 2021 lead plaintiff deadline.
SO WHAT: If you purchased Vipshop securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Vipshop class action, go to http://www.rosenlegal.com/cases-register-2178.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 13, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit: (1) defendants Goldman Sachs Group Inc. and Morgan Stanley obtained the material non-public information pursuant to their agreements with Archegos Capital Management's ("Archegos") and as serving as prime brokers of Archegos; (2) 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; and (3) despite this, while in possession of material, non-public adverse information, defendants collectively sold billions of dollars' worth of Vipshop shares. When this information became publicly know, Vipshop's stock price declined sharply, damaging investors.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.