Securities class action litigation has been filed on behalf of investors in the shares of Tencent Music Entertainment Group (“Tencent” or the “Company”) (NYSE: TME). If you purchased or otherwise acquired Tencent shares between March 22, 2021 and March 29, 2021, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than December 27, 2021.
You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the action. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.
Tencent investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should use the form below, text or email email@example.com, or call Lieff Cabraser partner Sharon M. Lee toll-free at 1-800-541-7358.
Background on the Tencent Securities Class Litigation
The action alleges that, during the Class Period, defendants Goldman Sachs Group Inc. and Morgan Stanley traded in Tencent shares while in possession of material non-public information 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. Defendants unloaded large block trades consisting of shares of Archegos’s doomed bets, including billions of dollars worth of Tencent securities beginning on March 25, 2021, before the market learned of Archegos’s collapse. As a result of these insider sales, defendants avoided billions of dollars in losses. Defendants knew, or were reckless in not knowing, that they were prohibited from trading while in possession of material, non-public information about Archegos but disposed of their Tencent shares to class members anyway before the news about Archegos was revealed and the price of Tencent’s shares plummeted.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $124 billion in verdicts and settlements. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In early 2021, The American Lawyer named our firm its “Boutique Litigation Firm of the Year.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America,” and listed us as its “2020 California Plaintiff Firm of the Year.” Lieff Cabraser is committed to ensuring access to justice for all.