On November 3, 2015, 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. On this news, the price of VimpelCom's ADRs fell $0.17, or 4.63%, to close at $3.50 per share on November 3, 2015.About Lieff Cabraser Lieff Cabraser Heimann & Bernstein, LLP is a nationally recognized law firm committed to advancing investor rights and promoting corporate responsibility. For thirteen years, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs' law firms in the nation. Best Lawyers and U.S. News have also named Lieff Cabraser as a "Law Firm of the Year" each year the publications have given this award to law firms. For more information about Lieff Cabraser and the firm's representation of investors, please visit http://www.lieffcabraser.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the upcoming deadline to move for appointment as lead plaintiff in securities class litigation brought on behalf of investors who purchased or otherwise acquired the securities of VimpelCom, Ltd. ("VimpelCom" or the "Company") (Nasdaq: VIP) between December 2, 2010 through November 2, 2015, inclusive (the "Class Period"). If you purchased or otherwise acquired VimpelCom securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than January 4, 2016. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action. VimpelCom investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358. The action alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that VimpelCom had unlawfully paid tens of millions of dollars to a company controlled by Gulnara Karimova, the Uzbekistan president's daughter, to secure VimpelCom's access to Uzbekistan's telecommunications market. On August 13, 2015, it was reported that U.S. authorities had asked their European counterparts to seize roughly $1 billion in assets in a criminal probe of alleged corruption by VimpelCom and two other companies for paying hundreds of millions of dollars to businesses controlled by Ms. Karimova to secure wireless spectrum in Uzbekistan. On this news, the price of VimpelCom's American Depositary Receipts ("ADRs") fell $0.13, or 2.34%, to close at $5.43 per share on August 14, 2015.