Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In ViacomCBS To Contact Him Directly To Discuss Their Options
NEW YORK - 
(NewMediaWire) - November 12, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against ViacomCBS Inc. (“ViacomCBS” or the “Company”) (NASDAQ: VIAC) and reminds investors of the December 28, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
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According to the Complaint, Goldman Sachs and Morgan Stanley sold a large amount of ViacomCBS shares during the Class Period while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure. As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.
During one week in late March 2021, investment banks Goldman Sachs and Morgan Stanley traded on inside information by selling large amounts of VIAC stock based on then publicly undisclosed information obtained through their relationship with troubled multi-billion dollar family office Archegos Capital Management.
On this news, shares of ViacomCBS Inc. stock fell over 55% during the week of March 22, 2021 to March 29, 2021.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding ViacomCBS’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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