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.
Banking & Financial Services
October 12, 2021, 6:46 PM