EQUITY ALERT: The Rosen Law Firm Announces the Filing of a Securities Class Action Against Vipshop Holdings Limited
19 Mayo 2015 - 7:18PM
Business Wire
The Rosen Law Firm, a global investor rights firm, announces
that a class action lawsuit has been filed on behalf of purchasers
of Vipshop Holdings Limited (NYSE:VIPS) securities from February
17, 2015 through May 11, 2015 (the “Class Period”). The lawsuit
seeks to recover damages for Vipshop investors under the federal
securities laws.
To join the Vipshop class action, go to the firm’s website at
http://www.rosenlegal.com/cases-615.html or call Phillip Kim, Esq.
or Kevin Chan, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit claims that defendants during the Class Period
misrepresented Vipshop’s business and operations. Specifically, the
lawsuit claims that defendants misstated and/or failed to disclose
that: (1) Vipshop manipulated and overstated its sales,
receivables, profit, cash flows, and asset accounts; (2) Vipshop’s
financial statements contain GAAP violations by reporting revenue
on a gross basis even though the vast majority of its sales are
under a consignment arrangement; (3) Vipshop’s internal controls
over financial reporting were ineffective; and (4) as a result,
Vipshop’s public statements were materially false and misleading at
all relevant times. When the true details entered the market, the
lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than July
20, 2015. If you wish to join the litigation, go to the firm’s
website at http://www.rosenlegal.com/cases-615.html or to discuss
your rights or interests regarding this class action, please
contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm
toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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version on businesswire.com: http://www.businesswire.com/news/home/20150519007247/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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