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VIPS & ZEV – Class Actions Reminders Bronstein, Gewirtz & Grossman, LLC

·2 min read

NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can 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. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Vipshop Holdings Ltd. (NYSE: VIPS)
Class Period: March 22, 2021 - March 29, 2021
Deadline: December 13, 2021
For more info: www.bgandg.com/vips.
The complaint alleges that throughout the Class Period, Defendants traded while in possession of material non-public information and that: (1) Defendants obtained the material non-public information pursuant to their agreements with Archegos Capital Management's ("Archegos") and as a result of their 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. (3) Nevertheless, while in possession of material, non-public adverse information, Defendants collectively sold billions of dollars' worth of Company shares. Later, when the information became publicly known, the price of the Company's common stock declined sharply as a result of such disclosure.

Lightning eMotors, Inc. f/k/a GigCapital3, Inc. (NYSE: ZEV; ZEV.WS)
Class Period: May 7, 2021 - August 16, 2021
Deadline: December 14, 2021
For more info: www.bgandg.com/zev.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts and failed to disclose to investors that: (1) the Company would record a substantially greater net loss per share in the second quarter of 2021 compared to the second quarter of 2020 and would pull its full year guidance for the remainder of 2021; (2) accordingly, the Company materially overstated its financial position and/or prospects; and (3) as a result, the Company's public statements were materially false and misleading at all relevant times.

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com