NEW YORK, Oct. 29, 2021 (GLOBE NEWSWIRE) – Scott + Scott Attorneys at Law LLP (âScott + Scottâ), an international shareholder and consumer rights litigation firm, has filed a securities class action lawsuit against Goldman Sachs Group Inc. (âGoldman Sachsâ) and Morgan Stanley (âMorgan Stanleyâ), alleging violations of Â§Â§20A, 10 (b) and 20 (a) of the Securities Exchange Act of 1934 (the âExchange Act â), 15 USC Â§Â§78t-1, 78j (b) and 78t (a), and Securities and Exchange Commission (SEC) Rule 10b-5 promulgated thereunder, 17 CFR Â§240.10b -5. If you purchased ordinary shares of ViacomCBS Inc. (âViacomCBSâ or the âCompanyâ) (NASDAQ: VIAC) between March 22, 2021 and March 29, 2021 inclusive (the âClaim Periodâ) and you suffered large losses, realized or unrealized, we encourage you to contact Scott + Scott’s attorney Jonathan Zimmerman at (888) 398-9312, or to [email protected] for more information.
Goldman Sachs and Morgan Stanley are global financial services institutions that have served as prime brokers for Archegos Capital Management (âArchegosâ), a family office with $ 10 billion under management, helping Archegos complete transactions and lending capital to Archegos in the form of a margin loan.
According to the Complaint, Goldman Sachs and Morgan Stanley sold a large amount of ViacomCBS shares during the Class Period while in possession of material and non-public information about Archegos and its need to fully liquidate its position in the Company. due to the pressure of margin calls. As a result of these sales, the defendants Goldman Sachs and Morgan Stanley avoided billions of losses combined.
Lead Applicant Deadline
The lead applicant’s deadline in this action is December 28, 2021. Any member of the proposed Class may seek to serve as a Principal Complainant through any lawyer of their choice, or may choose to do nothing and remain a member of the proposed Class. The case is pending in the Southern District of New York under file number 21-cv-8897.
What you can do
If you bought Ordinary shares of ViacomCBS during the Class Period, or if you have any questions about this notice or your legal rights, you are encouraged to contact attorney Jonathan Zimmerman at (888) 398-9312 or [email protected].
About Scott + Scott
Scott + Scott has extensive experience in pursuing major securities, antitrust and consumer rights actions across the United States. The company represents pension funds, foundations, individuals and other entities around the world with offices in New York, London, Amsterdam, Connecticut, California, Virginia and Ohio.
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