||United States District Court for the Southern District of New York
||The Hon. Andrew L. Carter
||Between December 4, 2010 and November 3, 2015
On November 4, 2015, the initial complaint in this securities class action was filed against VimpelCom, Ltd. (“VimpelCom” or the “Company”) and certain of VimpelCom’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. This action is being brought on behalf of a proposed class of all persons or entities that purchased VimpelCom securities between December 4, 2010 and November 3, 2015 inclusive (the “Class Period”). Lead Plaintiff alleges that throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, VimpelCom failed to disclose that it was engaging in a massive undisclosed bribery scheme which eventually led the Company to plead guilty to multiple criminal acts and enter into a Deferred Prosecution agreement with the U.S. Department of Justice.
Current Status of Case:
On April 14, 2020, Lead Plaintiff filed a Second Amended Class Action Complaint. Defendants moved to dismiss the amended complaint on May 15, 2020. Defendant’s Motion to Dismiss is fully briefed and pending before the Court. This action is still ongoing.
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