Latham & Watkins partners Jason C. Hegt, Jeff G. Hammel and Kristin N. Murphy have stepped in to defend Hong Kong-based GigaCloud Technology Inc., the operator of the GigaCloud Marketplace ecommerce platform, in a pending securities class action. The suit, which arises from the company's 2022 IPO, was filed Dec. 6 in New York Southern District Court by Pomerantz LLP. The suit, which also names underwriter Aegis Capital Corp., contends that the company misled investors regarding staffing and activity levels, last-mile operations and related party transactions. The case, assigned to U.S. District Judge Jesse M. Furman, is 1:23-cv-10645, Rock Villanueva v. GigaCloud Technology Inc et al.
Technology
December 18, 2023, 8:41 AM