Lawsuit filed for Investors in shares of Tencent Holdings Limited (OTC: TCEHY)

An investor, who purchased shares of Tencent Holdings Limited (OTC: TCEHY), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between March 22, 2021 and March 29, 2021.

Investors who purchased a significant amount of shares of Tencent Holdings Limited (OTC: TCEHY) between March 22, 2021 and March 29, 2021, have certain options and for certain investors are short and strict deadlines running. Deadline: December 27, 2021. OTC: TCEHY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that Goldman Sachs and Morgan Stanley sold Tencent Holdings Limited (OTC: TCEHY) shares to public shareholders after confidentially learning that Archegos Capital Management (“Archegos”), a family office with $10 billion under management, failed (or was likely to fail) to meet a margin call, requiring it to fully liquidate its position in Tencent Music. The plaintiff further alleges that Goldman Sachs and Morgan Stanley avoided billions in losses by trading in this alleged material non-public information and that, according to subsequent media reports, the defendants unloaded large block trades consisting of shares of Archegos’ doomed bets, including billions worth of Tencent Music securities, late Thursday, March 25, 2021, before the Archegos story reached the public, sending Tencent Music’s stock into a complete tailspin.

Shares of Tencent Holdings Limited (OTC: TCEHY) declined from $82.85 per share on March 22, 2021 to $76.60 per share on March 24, 2021.

Those who purchased shares of Tencent Holdings Limited (OTC: TCEHY) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.