SAN DIEGO, April 29, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of VinFast Auto Ltd. (NASDAQ: VFS) ("VinFast " or the "Company"). Join the VinFast class action lawsuit to potentially recover losses. Johnson Fistel LLP, a top law firm, can help you become the lead plaintiff.
The class action is on behalf of shareholders who purchased or otherwise acquired securities between August 15, 2023 and January 17, 2024. Investors have until June 11, 2024, to move the Court to serve as lead plaintiff in this action.
The complaint alleges that, throughout the Class Period, including in the Offering Documents for the Merger with Black Spade, the defendants misrepresented and/or failed to disclose that: (i) VinFast lacked sufficient capital to execute its purported growth strategy; (ii) VinFast would be unable to meet its 2023 delivery targets; and (iii) accordingly, VinFast had overstated the strength of its business model and operational capabilities, as well as its post-Merger business and/or financial prospects.
Join the class action suit as a potential lead plaintiff:
There is no cost or obligation to you.
Investor Action Steps: Shareholders who sustained financial losses during the designated class period, are entitled to petition the court, until June 11, 2024, to secure the position of a lead plaintiff in this proceeding. The lead plaintiff assumes the responsibility of representing the collective interests of all class members, guiding the direction of the class-action lawsuit. This pivotal role allows the lead plaintiff the autonomy to appoint a legal firm of their preference to pursue litigation in the class-action case. An investor's eligibility to partake in any prospective settlement of the class-action lawsuit is unrelated to their role as a lead plaintiff.
About Johnson Fistel, LLP | Top Law Firm, Securities Fraud, Investors Rights:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, LLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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