Pomerantz law firm investigates complaints
NEW YORK, November 01, 2021 (GLOBE NEWSWIRE) – Pomerantz LLP is investigating claims on behalf of investors of ViacomCBS Inc. (âViacomCBSâ or the âCompanyâ) (NASDAQ: VIAC). These investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation is into whether Goldman Sachs Group Inc. (âGoldman Sachsâ) and / or Morgan Stanley and certain of its officers and / or directors have engaged in securities fraud or other practices. illegal trading.
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According to media reports, in March 2021, Goldman Sachs and Morgan Stanley confidentially learned that family office Archegos Capital Management (âArchegosâ) had either failed or was likely not to respond to a margin call, forcing Archegos to liquidate its position in ViacomCBS. By trading on this non-public information, Goldman Sachs and Morgan Stanley avoided billions of dollars in losses on their ViacomCBS investments by selling the company’s securities in late March 2021 before the market learned of Archegos’ difficulties. When this information reached the market, the price of ViacomCBS securities fell sharply, hurting the Company’s investors.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the Dean of the Class Actions Bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext 7980