NEW YORK, NY / ACCESSWIRE / October 31, 2024 / Pomerantz LLP is investigating claims on behalf of investors of VinFast Auto Ltd. ("VinFast" or the "Company") (NASDAQ:VFS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether VinFast and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On September 20, 2024, VinFast issued a press release reporting the Company's financial results for the second quarter of 2024. Among other items, VinFast reported a gross loss of $224 million for the quarter, which the Company attributed primarily to an impairment charge on Net Residual Value of $104 million.
On this news, VinFast's stock price fell $0.30 per share, or 7.58%, to close at $3.66 per share on September 20, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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