By Hannah Albarazi (October 13, 2021, 8:59 p.m. EDT) – Goldman Sachs and Morgan Stanley averted billions in dangerous buying and selling losses from now-defunct Archegos Capital Administration household workplace by offloading shares to “unwitting traders” primarily based on inside info, in keeping with a securities class motion lawsuit filed Tuesday in federal courtroom in New York.
Investor Chew King Tan says funding giants used inside info – that Chinese language funding agency Archegos Capital Administration “failed (or was prone to fail) to reply to a name from margin, forcing it to completely liquidate its place “in Chinese language digital commerce firm Vipshop Holdings Ltd. – to shortly unload giant blocks of Vipshop shares …
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