ViacomCBS Inc. Securities Class Litigation

Introduction

Securities class action litigation has been filed on behalf of investors in the shares of ViacomCBS Inc. (“Viacom” or the “Company”) (NASDAQ: VIACA). If you purchased or otherwise acquired Viacom 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 28, 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.

Viacom 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 investorinfo@lchb.com, or call Lieff Cabraser partner Sharon M. Lee toll-free at 1-800-541-7358.

Background on the Viacom Securities Class Litigation

The action alleges that, during the Class Period, defendants Goldman Sachs Group Inc. and Morgan Stanley traded in Viacom 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 Viacom.  Defendants unloaded large block trades consisting of shares of Archegos’s doomed bets, including billions of dollars worth of Viacom 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 Viacom shares to class members anyway before the news about Archegos was revealed and the price of Viacom’s shares plummeted.

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    II.TRANSACTIONS IN VIACOM SECURITIES

    From March 22, 2021 and March 29, 2021, inclusive, I made the following transactions in Viacom securities:

    PURCHASES

    Date
    No. of Shares
    Price

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    SALES

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    No. of Shares
    Price

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    During the 90 days after March 29, 2021, I made the following transactions in Viacom securities:

    PURCHASES

    Date
    No. of Shares
    Price

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    SALES

    Date
    No. of Shares
    Price

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