VIPS INVESTOR ALERT: Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Vip...
10 Junio 2015 - 10:23AM
Business Wire
Law Offices of Howard G. Smith announces that a class action
complaint has been filed on behalf of a class comprising purchasers
of the securities of Vipshop Holdings Limited (“Vipshop” or the
“Company”) (NYSE: VIPS) between February 17, 2015 and May 11, 2015,
inclusive (the “Class Period”).
The complaint alleges that defendants made allegedly false
and/or misleading statements and/or allegedly failed to disclose
that: (a) Vipshop manipulated and overstated sales, receivables,
profit, cash flows, and asset accounts including inventory and
investments; (b) that Vipshop’s financial statements contained GAAP
violations by reporting revenue on a 'gross' basis, despite the
fact that the vast majority of the company's sales are under a
consignment arrangement; (c) that Vipshop’s internal controls over
financial reporting were ineffective; and, (d) that as a result of
the foregoing, Vipshop's public statements were materially false
and misleading at all relevant times. Upon disclosure of the
Company’s fraudulent behavior, shares of Vipshop declined in value,
thereby damaging investors. The lawsuit wishes to return the loss
in shareholder value back to investors.
If you purchased Vipshop securities during the Class Period, you
may move the Court no later than July 20, 2015, to serve as lead
plaintiff, if you meet certain legal requirements. To be a member
of the Class, you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an
absent member of the Class. If you wish to learn more about this
action, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150610005982/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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