Violations of federal securities laws as a result of a series of materially false statements. 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. Filed in S.D.N.Y.
Lead Plaintiff Deadline: The deadline to file for lead plaintiff in this action is 7/20/2015.
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