VinFast Auto (VFS) False Claims to SEC and the Public Case

The defendant has requested the court to dismiss the case.

E.D. New York

Court

1:24-cv-02750

Case number

08/15/2023

Class period Start

01/17/2024

Class period End

06/11/2024

Lead Plaintiff motion deadline

$VFS stockholder filed a claim vs. VinFast Auto (VFS) for making false statements to the SEC and the public.
Between August 2023 and January 2024 $VFS fell 84.78% losing most of it shareholder value.
VinFast investors can join this case to be notified about potential recovery.

In August 2023, VinFast completed a merger and began trading on NASDAQ.

On 16 October, 2023, Bloomberg article claiming VinFast was short on capital for its expansion plans, caused $VFS to fall 18%.

Then on 18 January, 2024 VinFast announced weak performance in Q4’23, causing $VFS a 2,2% fall. $VFS closed at $5.64 representing a total decline of 84.78% from the Company’s first post-Merger closing stock price of $37.06 per share on August 15, 2023.

One of the investors has already filed a class action against the Company for overstating revenue guidance in E.D. New York court.

Case Type

US Securities Class Action

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

10/16/2023

Filing date

04/12/2024

Lead Plaintiff Deadline

06/11/2024