Pomerantz Law Firm Notifies VinFast Auto Shareholders of Class Action Lawsuit and Key Deadlines

NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- The Pomerantz LLP has issued an alert to all shareholders who have incurred losses from their investments in VinFast Auto Ltd. (VinFast), previously known as Black Spade Acquisition Co. (Black Spade), pertaining to a class action lawsuit that has been initiated against the company and certain of its officials. The lawsuit has been registered under the ticker VFS on the NASDAQ stock exchange. This legal action seeks to represent shareholders who have been negatively affected by the alleged misrepresentation and statutory violations committed by the company and its management team.

Details of the Class Action Lawsuit

The claim brought forth by Pomerantz LLP alleges that VinFast and its executives have failed to adhere to federal securities laws. The lawsuit contends that there were substantial omissions and materially false and misleading statements made to the shareholders regarding the company's business, operational, and compliance policies. Specifically, the claim points to misrepresentations that may have resulted in an artificial inflation of the company's stock price, subsequently leading to significant losses when the truth was revealed.

Upcoming Deadlines for Shareholder Participation

Investors who suffered a loss from their VFS investments at VinFast Auto Ltd. should be aware of the upcoming deadlines to become a lead plaintiff. Participation as a lead plaintiff is not a requirement to share in any potential recovery. Shareholders have a limited time frame to apply for the position of lead plaintiff or to be a part of the class action lawsuit. The Pomerantz Law Firm is available to discuss the rights of these investors and guide them through the process of seeking compensation for their losses.

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