Press release
Lawsuit filed for Investors who lost money with shares of VinFast Auto Ltd. (NASDAQ: VFS)
A lawsuit was filed on behalf of investors in VinFast Auto Ltd. (NASDAQ: VFS) shares over alleged securities laws violations.
Investors who purchased shares of VinFast Auto Ltd. (NASDAQ: VFS) have certain options and for certain investors are short and strict deadlines running. Deadline: June 11, 2024. NASDAQ: VFS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Vietnam based VinFast Auto Ltd., an automotive manufacturer, engages in Automobiles and E-scooter related business in Vietnam and the United States.
VinFast Auto Ltd describes itself as "an innovative, full-scale mobility platform focused primarily on designing and manufacturing premium EVs ("electric vehicles"), e-scooters, and e-buses."
On August 14, 2023, VinFast Auto Ltd. announced that it had completed its business combination with Black Spade Acquisition Co. Since announcing the completion of the business combination, VinFast's ordinary shares have traded as high as $93.00 per share on August 28, 2023.
Prior to the Merger, VinFast Auto Ltd operated as a publicly traded special purpose acquisition company (SPAC or blank-check company).
On October 15, 2023, Bloomberg published an article entitled "VinFast to Expand Into Southeast Asia, Raise More Capital," which revealed that VinFast would need to raise "a lot of capital" in order to fuel its global expansion plans and would "rely on [financial] support from parent company Vingroup JSC and its founder Pham Nhat Vuong in the next 18 months." On this news, the price of VinFast ordinary shares fell more than 18%, according to the complaint.
Then, on January 18, 2024, VinFast Auto Ltd. revealed that it delivered a total of 34,855 EVs in 2023, falling well short of its annual deliveries target of 40,000-50,000 units.
Shares of VinFast Auto Ltd. (NASDAQ: VFS) declined to as low as $2.255 per share on April 22, 2024.
The plaintiff claims that the defendants between August 15, 2023 and January 17, 2024, and in the offering documents issued in connection with the merger consummated on August 14, 2023 made false and/or misleading statements and/or failed to disclose that VinFast Auto Ltd lacked sufficient capital to execute its purported growth strategy, that VinFast Auto Ltd would be unable to meet its 2023 delivery targets, and that accordingly, VinFast Auto Ltd had overstated the strength of its business model and operational capabilities, as well as its post-Merger business and/or financial prospects.
Those who purchased shares of VinFast Auto Ltd. (NASDAQ: VFS) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Lawsuit filed for Investors who lost money with shares of VinFast Auto Ltd. (NASDAQ: VFS) here
News-ID: 3479997 • Views: …
More Releases from Shareholders Foundation, Inc.
Investigation announced for Long-Term Investors who lost money with Leslie's, In …
An investigation was announced for current long-term investors in shares of Leslie's, Inc. (NASDAQ: LESL) concerning potential breaches of fiduciary duties by certain directors of Leslie's, Inc.
Investors who are current long term investors in Leslie's, Inc. (NASDAQ: LESL) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: LESL…
Deadline on June 11th coming up in Lawsuit for Investors with Losses in VinFast …
A deadline is coming up on June 11, 2024 in the lawsuit filed for certain investors of VinFast Auto Ltd. (NASDAQ: VFS) over alleged securities laws violations by VinFast Auto Ltd.
Investors who purchased shares of VinFast Auto Ltd. (NASDAQ: VFS) have certain options and there are strict and short deadlines running. Deadline: June 11, 2024. NASDAQ: VFS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779…
Investors who lost money with shares of Arhaus, Inc. (NASDAQ: ARHS) should conta …
An investigation was announced for investors of Arhaus, Inc. (NASDAQ: ARHS) shares over potential securities laws violations by Arhaus, Inc.
Investors who purchased shares of Arhaus, Inc. (NASDAQ: ARHS), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Arhaus, Inc. (NASDAQ: ARHS) concerning whether a series…
Lawsuit filed for Investors who lost money with shares of Fastly, Inc. (NYSE: FS …
An investor, who purchased shares of Fastly, Inc. (NYSE: FSLY), filed a lawsuit over alleged violations of Federal Securities Laws by Fastly, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Fastly, Inc. (NYSE: FSLY) have certain options and for certain investors are short and strict deadlines running. Deadline: July 23, 2024. NYSE: FSLY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858)…
More Releases for VinFast
Vietnam Automotive Aftermarket Size, Share & Trends Analysis Report By Applicati …
Due to rapid urbanization and growth of passenger vehicle sales, Vietnam Automotive Aftermarket Service Industry is expected to grow at a CAGR of ~8.4% between 2020 and 2025: Ken Research
Increased awareness on health and hygiene in the post COVID-19 scenario has acted as a catalyst for the demand of private vehicles, which contributes to the aftermarket services industry.
Rapid urbanization couple with fast growing middle class section is another major growth…
Vietnam Used Car Market-- Fast growing middle class population, government regul …
Import Tax Reduction and Free Trade Agreements
In order to support the growth of automotive industry in motorcycle dominated Vietnam, the government, post 2018, has implemented policies and regulations for the reduction of new car prices. Import tax reduction to 0% for automotive parts and components from ASEAN region to free trade agreements signed with European Union extensively supports the sales of new passenger vehicles from foreign brands, acting as a…
Adsorption Equipment Market Growth Boosting Factors, Challenges, Upcoming Trends …
Global Adsorption Equipment Market: Overview
Adsorption equipment are used to reduce the emission of carbon di oxide. These equipment bind molecules or particles to its surface hence prevent spreading of unwanted gas. It has several industrial applications. Some of the common end use industries of the adsorption equipment are perfume industry, automobile industry and chemical manufacturing industry.
The top players in…
Demand for Lithium-Ion Batteries Set to Boom in Asia-Pacific in Coming Years
According to the Global Electric Vehicle Outlook 2021 report published by the International Energy Agency (IEA), there were 6,850,327 battery electric vehicles (BEV) and 3,346,713 plug-in hybrid electric vehicles (PHEV) all over the world in 2020. The IEA further projects that the electric car stock will reach 79,975,992 units of BEVs and 44,355,904 units of PHEVs by 2030. The burgeoning sales of EVs can be credited to the surging…
Vietnam Electric Vehicle Charging Infrastructure Market to grow at a Significant …
Increase in vehicle ownership and growing need for energy-efficient commuting is expected to drive the demand for Vietnam electric vehicle charging infrastructure market for forecast period.
According to TechSci Research report, “Vietnam Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two-Wheeler, Four-Wheeler, Commercial Vehicle) By Type (AC and DC) By Installed Location (Residential and Commercial) By Company, By Region, Forecast & Opportunities, 2026”, Vietnam electric vehicle charging infrastructure market is expected…
Adsorption Equipment Market: 360-degree Overview, Notable Developments, Growth P …
Global Adsorption Equipment Market: Overview
Adsorption equipment are used to reduce the emission of carbon di oxide. These equipment bind molecules or particles to its surface hence prevent spreading of unwanted gas. It has several industrial applications. Some of the common end use industries of the adsorption equipment are perfume industry, automobile industry and chemical manufacturing industry.
Get Brochure of the…
