VinFast Auto Ltd. Investigation - VFS

Case Summary

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Robbins Geller Rudman & Dowd LLP announces an investigation into potential violations of U.S. federal securities laws involving VinFast Auto Ltd. (NASDAQ: VFS; VFSWW) focused on whether VinFast and certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors (the “VinFast Investigation”).

If you have information that could assist in the VinFast Investigation or if you are a VinFast investor who suffered a loss and would like to learn more, you can provide your information in the form on this page.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.

THE COMPANY: VinFast Auto Ltd. – an automotive manufacturer doing business in Vietnam and the United States – previously operated as a blank check company, also referred to as a special purpose acquisition company (“SPAC”).  On August 14, 2023, VinFast announced that it had completed its business combination with Black Spade Acquisition Co.  VinFast’s ordinary shares and warrants trade on the Nasdaq Stock Market LLC under the ticker symbols “VFS” and “VFSWW,” respectively. 

THE INVESTIGATION: Since announcing the completion of the business combination, VinFast’s ordinary shares have traded as high as $82.35 per share. As of the November 15, 2023 close, VinFast’s ordinary shares traded at $6.17 per share, a drop of more than 92%.

Robbins Geller has launched a dedicated SPAC Task Force to protect investors in blank check companies and seek redress for corporate malfeasance.  Comprised of experienced litigators, investigators, and forensic accountants, the SPAC Task Force is dedicated to rooting out and prosecuting fraud on behalf of injured SPAC investors.  The rise in blank check financing poses unique risks to investors.  Robbins Geller’s SPAC Task Force represents the vanguard of ensuring integrity, honesty, and justice in this rapidly developing investment arena.  Please visit the following page for more information:

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list.  And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

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