The Shareholders Foundation announces that an investor in shares of Vipshop Holdings Ltd – ADR (NYSE:VIPS), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Vipshop Holdings Ltd in connection with certain allegedly false and misleading statements made between February 17, 2015 and May 11, 2015.
Investors who purchased shares of Vipshop Holdings Ltd – ADR (NYSE:VIPS) have certain options and for certain investors are short and strict deadlines running. Deadline: July 20, 2015. NYSE:VIPS investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Vipshop Holdings Ltd – ADR (NYSE:VIPS) common shares between February 17, 2015 and May 11, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Vipshop Holdings Ltd manipulated and overstated sales, receivables, profit, cash flows, and asset accounts including inventory and investments, that Vipshop Holdings Ltd’s financial statements contain 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, that Vipshop Holdings Ltd’s internal controls over financial reporting were ineffective, and that as a result of the foregoing, Vipshop’s public statements were materially false and misleading at all relevant times.
On May 12, 2015, a report was published alleging that forensic models suggest Vipshop Holdings Ltd manipulated sales, receivables, profit and other asset accounts; and that Vipshop Holdings’ financial statements have been contradicted by management’s own disclosures in several instances.
On May 13, 2015, Vipshop Holdings Ltd responded to the allegations and said that the allegations are unfounded and contain numerous errors, unsupported speculation, and a general misunderstanding of the Company’s business model. On May 15, 2015, Vipshop Holdings Ltd responded to allegations made by a short seller on May 13, 2015.
Shares of Vipshop Holdings Ltd – ADR (NYSE:VIPS) declined on May 14, 2015, at as low as $24.55 per share, respectively $23.61 per share on June 8, 2015.
Those who purchased shares of Vipshop Holdings Ltd – ADR (NYSE:VIPS) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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