We Give Shareholders a Voice
Levi & Korsinsky announces the filing of a class action lawsuit in the United States District Court for the Southern District of New York on behalf of shareholders who purchased Vipshop Holdings Limited (NYSE: VIPS) shares between February 17, 2015 and May 11, 2015.
The complaint alleges that defendants misstated and/or failed to disclose that: (a) Vipshop manipulated and overstated its sales, receivables, profit, cash flows, and asset accounts; (b) 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; and (c) Vipshop’s internal controls over financial reporting were ineffective. If you suffered a loss in Vipshop you have until July 20, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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