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Vip.com again by the United States law collective lawsuit accused of misleading investors

vip.com stock price screenshot

Phoenix Technology News Beijing on June 11th news, according to U.S. commercial news agency reported that the United States Howard Smith LLP (Law Offices of Howard G. Smith) announced on Wednesday that it has representative in February 17, 2015 to May 11, 2015 to buy vip.com stock buyers of vip.com filed a class action lawsuit.

claims that vip.com released false and / or misleading statement did not disclose the following facts: (a), vip.com manipulation and exaggerated sales, accounts receivable, profit, cash flow and asset account, including inventory and investment; (b), vip.com financial statements included in violation of U.S. GAAP criterion (GAAP) content, in accordance with the "gross income" report revenue, although vip.com most sales are based on consignment protocol; (c), vip.com internal control over financial reporting failure; (d), to sum up, vip.com public statement in all related time is essentially false. Misleading.

Vip.com’s share price fell after vip.com’s fraud was revealed, causing investors to suffer losses in

. The class action is designed to compensate for the loss of shareholders.

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