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NEW YORK, June 9, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Vipshop Holdings Limited (NYSE:VIPS) from February 17, 2015 through May 11, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. If you purchased or otherwise acquired Vipshop Holdings Limited ("Vipshop") securities between February 17, 2015 and May 11, 2015, your rights may be affected by this action. To get more information go to:
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.
If you suffered a loss in Vipshop you have until July 20, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comNEXT ARTICLE
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