SAN DIEGO, Nov. 17, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline is coming up on January 4, 2016 for certain investors to get actively involved in the lawsuit that was filed in New York on behalf of certain purchasers of shares of VimpelCom Ltd (ADR) (NASDAQ:VIP) over alleged Securities Laws Violations by VimpelCom Ltd.
Investors who have losses in excess of $100,000 from their investment between June 30, 2011 and November 2, 2015 in shares of VimpelCom Ltd (ADR) (NASDAQ:VIP) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that VimpelCom had paid tens of millions of dollars to a company controlled by Gulnara Karimova (“Karimova”), daughter of the president of Uzbekistan, that the payments to Karimova were unlawful bribes intended to secure VimpelCom’s access to Uzbekistan’s telecommunications market, and that as a result of the foregoing, Defendants’ statements about VimpelCom’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
In March 2014, VimpelCom Ltd announced that it was facing investigations by the SEC, U.S. Department of Justice, and Dutch authorities related to its operations in Uzbekistan.
On August 13, 2015, it was reported that U.S. authorities had asked their European counterparts to seize roughly $1 billion in assets in a wide-ranging criminal probe of alleged corruption by VimpelCom and two other companies, Mobile TeleSystems PJSC (“MTS”) and TeliaSonera AB (“TeliaSonera”), for paying hundreds of millions of dollars to businesses controlled by Karimova to secure wireless spectrum in Uzbekistan.
On November 3, 2015, VimpelCom Ltd announced that it had set aside $900 million for litigation costs in connection with U.S. and Dutch investigations into the Company’s operations in Uzbekistan.
Those who have losses in excess of $100,000 from their investment in (NASDAQ:VIP) shares should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.