Goldman Sachs Group and Morgan Stanley were hit with a securities class action Tuesday in New York Southern District Court over insider trading claims. The complaint, filed by Scott + Scott and other plaintiff firms, accuses the defendants of improperly selling shares of online retailer Vipshop Holdings based on confidential information to avoid billions of dollars in losses. Counsel have not yet appeared for the defendants. The case is 1:21-cv-08413, Tan v. Goldman Sachs Group Inc. et al.
This suit was surfaced by Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Law.com Radar publishes daily updates on just-filed federal cases like this one. Click here to get started and be first to know about new suits in your region, practice area or client sector.
