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VFS.US
id: 1193

VinFast Auto (VFS) False Claims to SEC and the Public Case

E.D. New York
Court
1:24-cv-02750
Case number
15 Aug 2023
Class period Start
17 Jan 2024
Class period End
11 Jun 2024
Lead Plaintiff motion deadline
  • $VFS stockholder filed a claim vs. VinFast Auto (VFS) for making false statements to the SEC and the public.
  • Between August 2023 and January 2024 $VFS fell 84.78% losing most of it shareholder value.
  • VinFast investors can join this case to be notified about potential recovery.
In August 2023, VinFast completed a merger and began trading on NASDAQ.

On 16 October, 2023, Bloomberg article claiming VinFast was short on capital for its expansion plans, caused $VFS to fall 18%.

Then on 18 January, 2024 VinFast announced weak performance in Q4’23, causing $VFS a 2,2% fall. $VFS closed at $5.64 representing a total decline of 84.78% from the Company’s first post-Merger closing stock price of $37.06 per share on August 15, 2023.

One of the investors has already filed a class action against the Company for overstating revenue guidance in E.D. New York court.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
16 October 2023
Filing date
12 April 2024
Lead Plaintiff Deadline
11 June 2024
Collecting participants…

VinFast Auto Ltd.

VinFast Auto Ltd. engages in the design and manufacture of electric vehicles (EV), e-scooters, and e-buses in Vietnam, Canada, and the United States. The company operates through three segments: Au...

    Ticker
    VFS.US
    Sector
    Consumer Cyclicals
    Industry
    Automobiles & Auto Parts
    Country
    Vietnam
    Address
    Dinh Vu – Cat Hai Economic Zone Cat Hai Islands, Cat Hai Town Cat Hai District Hai Phong City