Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Goldman Sachs Group, Inc. and Morgan Stanley for securities law violations

NEW YORK, NY / ACCESSWIRE / Nov 12, 2021 / Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a lead plaintiff motion by December 28, 2021 at the latestin a securities class action lawsuit filed on behalf of investors who have purchased or acquired the securities of ViacomCBS Inc. (“Viacom” or the “Company”) (NASDAQ: VIAC: VIACA) between March 22, 2021 and March 29, 2021 inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York alleging violations of the Securities Act of 1934.

if you Purchased Viacom securities and / or wish to discuss your legal rights and options Please visit or contact ViacomCBS Inc.’s class action lawsuit Joe Seidman free of charge at (877) 779-1414 or seiman@bernlieb.com.

According to the lawsuit, defendants Goldman Sachs Group Inc. and Morgan Stanley jointly sold several billion dollars worth of Viacom shares while in possession of material non-public information they obtained under their agreements with and as a prime broker for Archegos Capital Management (“Archegos”). The defendants knew or recklessly disregarded that they owed a duty of loyalty to Archegos or an obligation arising from a similar relationship of trust to keep the information confidential.

In March 2021, Goldman Sachs and Morgan Stanley learned confidentially that Archegos had failed or likely would fail to meet a margin call that prompted Archegos to liquidate its position in Viacom. Trading this non-public information enabled Goldman Sachs and Morgan Stanley to avoid billions in losses on their Viacom investments by selling the company’s securities in late March 2021 before the market learned of Archegos’ troubles. When this information reached the market, the price of Viacom securities fell sharply, causing harm to the company’s investors.

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If you want to appear as the lead plaintiff, you have to go to court no later than December 28, 2021. A lead plaintiff is a representative party who acts on behalf of other group members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you do nothing, you can remain an absent class member.

if you Purchased Viacom securities and / or wish to discuss your legal rights and options please visit https://www.bernlieb.com/cases/viacomcbsinc-viaca-viac-shareholder-class-action-lawsuit-fraud-stock-452/ or contact Joe Seidman free of charge at (877) 779-1414 or seiman@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to oversee their assets and litigate on their behalf. As a result of its success in hundreds of lawsuits and class actions, the firm has been included on the National Law Journal’s “Plaintiffs’ Hot List” thirteen times and on The Legal 500 for ten consecutive years.

ADVERTISING LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this complaint in the Connecticut state is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to future matters.

Contact information:

Joe Seidman
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
seiman@bernlieb.com

SOURCE: Bernstein Liebhard LLP

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