Philadelphia, Pennsylvania--(Newsfile Corp. - April 24, 2024) - A securities fraud lawsuit has been filed against VinFast Auto Ltd. ("VinFast" or the "Company") (NASDAQ: VFS) f/k/a Black Spade Acquisition Co. ("Black Spade"). The lawsuit is captioned Comeau v. VinFast Auto Ltd., et al., No. 1:24-cv-02750 (E.D.N.Y.), and is filed on behalf of purchasers of VinFast securities between August 15, 2023 and January 17, 2024, inclusive (the "Class Period").
CLICK HERE TO LEARN MORE ABOUT THIS LAWSUIT.
Investors who purchased or acquired VinFast securities during the Class Period may, no later than June 11, 2024, seek to be appointed as a lead plaintiff representative of the class.
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.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: James Maro at jmaro@bm.net or (267) 637-3176, or Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015 or CLICK HERE.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts:
James Maro, Senior Counsel
Berger Montague
(267) 637-3176
jmaro@bm.net
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206658
