The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Discovery Inc. (Goldman Sachs Group Inc.) (NASDAQ: DISCA) who purchased shares between March 22, 2021 and March 29, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Discovery lawsuit alleges that Goldman Sachs and Morgan Stanley sold a large amount of Discovery shares during the class period while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure. As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.
Shareholders have until March 8, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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