VinFast says it is 'not being sued in the US'.

According to the electric car manufacturer, the fact that a US law firm is seeking clients to sue VinFast does not mean they are violating the law or facing legal action.

Today, two private US law firms, Robbins Gelleer Rudman & Dowd and Pomerantz, announced they are gathering information from clients to open an investigation into potential violations of US securities laws by VinFast Auto. The two firms are requesting information focusing on whether senior VinFast executives failed to disclose important information or made statements that misled investors.

The information was disseminated to the public through the PR Newswire portal, which was independently published by the two companies.

This development immediately affected investor sentiment in the Vietnamese market and was one of the reasons for the sharp drop in stock prices this afternoon.

On the evening of November 17th, a representative from VinFast responded to the information provided by the two law firms in the United States.

Ms. Ho Ngoc Lam, Head of Legal Affairs at Vingroup and Deputy General Director in charge of legal affairs at VinFast, said that litigation is quite normal and frequent in the US. "We have always been prepared to face this since we decided to launch our business operations in the US market," she said.

VinFast stated that it always aims to provide transparent information to investors in the market. VinFast is still "operating completely normally in the US," Ms. Lam said.

According to VinFast's Deputy General Director in charge of legal affairs, the fact that Robbins, Geleer Rudman & Dowd, and Pomerantz are calling for customers to join the lawsuit does not mean that VinFast has violated the law or has already been sued in the US market.

According to experts, this development is essentially a form of client acquisition frequently used by law firms in the US and some other countries. The common method is to target large brands or listed companies, find a reason to launch a class-action lawsuit, and advertise to find clients.

Prior to VinFast, brands such as Tesla, electric vehicle startup Lucid, software company Amplitude, and biopharmaceutical company Morphic had also been urged by law firms like the one mentioned above to seek out customers to sue in a similar manner.

Minh Son

Source link