5 FREQUENTLY ASKED QUESTIONS ABOUT THE GIGACLOUD CLASS ACTION LAWSUIT

If you suffered losses in GigaCloud stock, contact GigaCloud stock loss lawyer Timothy L. Miles about a Gigacloud class action lawsuit

introduction to the GIGACLOUD CLASS ACTION LAWSUIT

The GigaCloud class action lawsuit​ seeks to represent purchasers or acquirers of GigaCloud Technology Inc. (NASDAQ: GCT): (a) Class A ordinary shares pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with GigaCloud’s August 18, 2022 initial public offering (“IPO”); and/or (b) securities between August 18, 2022 and September 27, 2023, inclusive (the “Class Period”).  Captioned Kinnally v. GigaCloud Technology Inc., No. 23-cv-08381 (C.D. Cal.), the GigaCloud class action lawsuit charges GigaCloud and certain of its top executive officers and directors with violations of the Securities Act of 1933 and Securities Exchange Act of 1934.
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If you suffered losses in GigaCloud stock and wish to serve as lead plaintiff in the GigaCloud class action lawsuit, please contact GigaCloud Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the GigaCloud class action lawsuit must be filed with the court no later than December 4, 2023.

Read on for answers to five frequently asked questions about the GigaCloud class action lawsuit.

WHAT ARE THE ALLEGATIONS IN THE class action against GigaCloud?

GigaCloud is a holding company which, through its subsidiaries, offers an end-to-end ecommerce platform for global trade services of heavy and large products, primarily furniture.

The class action against GigaCloud that the Registration Statement and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) GigaCloud’s business is a fraction of what it publicly claims, as evidenced by staffing and activity levels at its warehouses; (ii) GigaCloud overstated its last-mile operations; (iii) GigaCloud engaged in undisclosed related party transactions; and (iv) as a result, GigaCloud’s financial results were overstated.

The class action against GigaCloud alleges that on September 28, 2023, Culper Research published a report titled “GigaCloud Technology Inc (NASDAQ:GCT): If It’s Too Good To Be True…” alleging “numerous glaring flaws” in GigaCloud’s public reporting.  According to the complaint, the report alleges, among other things, that while GigaCloud “claims to run 14 U.S. warehouses,” GigaCloud “discloses just 73 employees in the entire U.S., implying just 5 employees per warehouse.”  The GigaCloud class action lawsuit alleges that on this news, the price of GigaCloud stock fell more than 18%.
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As of when the class action against GigaCloud was filed, GigaCloud stock continued to trade below the $12.25 IPO price.

IF I SUFFERED LOSSES IN GIGACLOUD STOCK, WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE GIGACLOUD CLASS ACTION LAWSUIT?

Serving as a Lead Plaintiff in the class action against GigaCloud has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against GigaCloud if you suffered losses in GigaCloud stock. ​

CAN I BE LEAD PLAINTIFF IN THE GIGACLOUD CLASS ACTION LAWSUIT IF I AM LEAD PLAINTIFF IN ANOTHER CASE?

​​Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in GigaCloud stock, you may move to be appointed lead plaintiff in the class action against GigaCloud.

HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE GIGACLOUD CLASS ACTION LAWSUIT?

​If you purchased shares during the class period and suffered losses in GigaCloud stock, then you are most likely a member of the class in the class action against GigaCloud and may participate in the class action against GigaCloud since you suffered losses in GigaCloud stock.

IF I SUFFERED LOSSES IN GIGACLOUD STOCK, HOW MUCH CAN I GET OUT OF THE GIGACLOUD CLASS ACTION LAWSUIT?

​​​In a securities fraud class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in GigaCloud stock. Contact a GigaCloud stock loss lawyer who could explain your losses in greater detail if you suffered losses in GigaCloud​ stock. 

CONTACT A GIGACLOUD STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN GIGACLOUD STOCK ABOUT A GIGACLOUD CLASS ACTION LAWSUIT

​If you suffered losses in GigaCloud stock, contact GigaCloud stock loss lawyer Timothy L. Miles today for a free case evaluation about a class action against GigaCloud. Call today and see what a GigaCloud stock loss lawyer could do for you if you suffered losses in GigaCloud stock.

GigaCloud stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, 6Class Action:  Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America's Most Honored Lawyers 2020; Top 1% by America's Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529