Levi & Korsinsky, LLP announces the filing of a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders of VimpelCom Ltd. (NASDAQGS: VIP) who purchased shares between June 30, 2011 and November 2, 2015.
The Complaint alleges that throughout the class period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) VimpelCom had paid tens of millions of dollars to a company controlled by Gulnara Karimova (“Karimova”), daughter of the president of Uzbekistan; (ii) the payments to Karimova were unlawful bribes intended to secure VimpelCom’s access to Uzbekistan’s telecommunications market; and (iii) as a result of the foregoing, Defendants’ statements about VimpelCom’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. On November 3, 2015, pre-market, VimpelCom announced that it had set aside $900 million for litigation costs in connection with U.S. and Dutch investigations into the Company’s operations in Uzbekistan. If you suffered a loss in VimpelCom you have until January 4, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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