NEW YORK, June 17, 2015 /PRNewswire/ -- The following
statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise
acquired securities of Vipshop Holdings Limited (NYSE: VIPS)
from February 17, 2015 through
May 11,
2015.
You are hereby notified that a securities class action
lawsuit has been commenced in the United States District Court for
the Southern District of New York.
If you purchased or otherwise acquired Vipshop Holdings Limited
("Vipshop") securities between February 17,
2015 and May 11, 2015,
your rights may be affected by this action. To get
more information go to:
http://zlk.9nl.com/vipshop-vips
or contact Joseph E. Levi, Esq.
either via email at jlevi@zlk.com or by telephone at (212)
363-7500, toll-free: (877) 363-5972. There is no cost or
obligation to you.
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.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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SOURCE Levi & Korsinsky, LLP