| COMPANY |
VimpelCom, Ltd. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
15-cv-08672 |
| JUDGE |
The Hon. Andrew L. Carter |
| CLASS PERIOD |
December 4, 2010 - November 3, 2015 |
| SECURITY TYPE |
All Securities |
Case Background:
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 March 1, 2023, Lead Plaintiff filed a Third Amended Class Action Complaint. On May 12, 2023, Defendants filed a Motion to Dismiss the Third Amended Class Action Complaint. Defendant’s Motion to Dismiss is fully briefed and pending before the Court. This action is still ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.