SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

November 12, 2015 15:36 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of VimpelCom Ltd. of Pendency of Class Action Lawsuit and a Lead Plaintiff Deadline of January 4, 2016 -- VIP

NEW YORK, NY--(Marketwired - Nov 12, 2015) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of VimpelCom Ltd. ("VimpelCom") (NASDAQ: VIP) between June 30, 2011 and November 2, 2015.

You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. If you purchased or otherwise acquired VimpelCom between June 30, 2011 and November 2, 2015, your rights may be affected by this action. To get more information go to:

http://zlk.9nl.com/vimpelcom-vip

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Complaint alleges that throughout the class period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) VimpelCom had paid tens of millions of dollars to a company controlled by Gulnara Karimova ("Karimova"), daughter of the president of Uzbekistan; (ii) the payments to Karimova were unlawful bribes intended to secure VimpelCom's access to Uzbekistan's telecommunications market; and (iii) as a result of the foregoing, Defendants' statements about VimpelCom's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On November 3, 2015, pre-market, VimpelCom announced that it had set aside $900 million for litigation costs in connection with U.S. and Dutch investigations into the Company's operations in Uzbekistan.

If you suffered a loss in VimpelCom you have until January 4, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com