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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

TENCENT ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Tencent Music Entertainment Group and Encourages Investors to Contact the Firm

November 11, 2021 GMT

NEW YORK--(BUSINESS WIRE)--Nov 10, 2021--

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Tencent Music Entertainment Group (“Tencent” or the “Company”) (NYSE: TME) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Tencent securities between March 22, 2021 and March 29, 2021, both dates inclusive (the “Class Period”). Investors have until December 27, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

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According to the lawsuit, Goldman Sachs Group Inc. and Morgan Stanley sold a large amount of Tencent Music American Depository Shares (ADSs) during the Class Period while in possession of material non-public information about Archegos Capital Management (at the time a family office with $10 billion under management) and its need to fully liquidate its position in Tencent Music because of margin call pressure. As a result of these sales, the defendants in the case, Goldman Sachs and Morgan Stanley, avoided billions in losses combined.

If you purchased or otherwise acquired Tencent shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211110006444/en/

CONTACT: Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Alexandra B. Raymond, Esq.

(212) 355-4648

investigations@bespc.com

www.bespc.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Bragar Eagel & Squire, P.C.

Copyright Business Wire 2021.

PUB: 11/10/2021 09:00 PM/DISC: 11/10/2021 09:02 PM

http://www.businesswire.com/news/home/20211110006444/en