NEW YORK, May 22, 2015 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, is investigating
potential securities fraud at Vipshop Holdings Limited ("Vipshop"
or the "Company") (NYSE: VIPS).
The investigation focuses on whether the Company and its
executives violated federal securities laws by failing to disclose
that: (1) Vipshop manipulated and overstated its sales,
receivables, profit, cash flows, and asset accounts; and (2)
Vipshop's financial statements contain GAAP violations by reporting
revenue on a gross basis even though the majority of Company sales
are conducted under a consignment arrangement.
On May 12, 2015, a report
published by Mithra Forensic Research asserted, among other things,
that forensic models suggest that Vipshop manipulated sales,
receivables, profit, and other asset accounts. On May 14, 2015, a J Capital Research report stated
that the Company's financial filings in China are vastly different than its filings
with the Securities and Exchange Commission. In the aftermath of
the two reports, Vipshop shares declined by 7.8% on the
May 14, 2015 market close as compared
to their May 11, 2015 closing
price.
Request more information now by clicking here:
www.faruqilaw.com/VIPS. There is no cost or obligation to
you.
Take Action
If you invested in Vipshop stock or options between February 17, 2015 through May 11, 2015 and would like to discuss your legal
rights, visit www.faruqilaw.com/VIPS. You can also contact us
by calling Richard Gonnello toll
free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to
rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding Vipshop's conduct to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with
respect to any future matter. We welcome the opportunity to
discuss your particular case. All communications will be
treated in a confidential manner.
Contact:
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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