WHAT YOU NEED TO KNOW 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

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.

ALLEGATIONS IN THE GIGACLOUD CLASS ACTION LAWSUIT

​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 GigaCloud class action lawsuit​ alleges 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 GigaCloud class action lawsuit​ 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 GigaCloud class action lawsuit​ was filed, GigaCloud stock continued to trade below the $12.25 IPO price.

WHAT IS THE LEAD PLAINTIFF PROCESS IN THE GIGACLOUD CLASS ACTION LAWSUIT?

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in GigaCloud stock to seek appointment as lead plaintiff in the  GigaCloud class action lawsuit​. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
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​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in GigaCloud stock and have further questions, contact GigaCloud stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a  GigaCloud class action lawsuit​ if you suffered losses in GigaCloud​ stock.

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 GigaCloud class action lawsuit 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 APPOINTED LEAD PLAINTIFF IN THE GIGACLOUD CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?

No.  Even if you suffered losses in GigaCloud stock, if you purchased securities outside of the Class period, you will not be able to participate in the GigaCloud class action lawsuit.

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 GigaCloud class action lawsuit.

HOW WAS THE CLASS PERIOD DETERMINED IN THE GIGACLOUD CLASS ACTION LAWSUIT?

In a securities fraud class action such as the GigaCloud class action lawsuit, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
In order to be a part of the class in the GigaCloud class action lawsuit, you must have suffered losses in GigaCloud stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included 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 GigaCloud class action lawsuit and may participate in the GigaCloud class action lawsuit 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 such as the GigaCloud 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. 

IF I SUFFERED LOSSES IN SUFFERED LOSSES IN GIGACLOUD STOCK, WHEN CAN I EXPECT TO RECEIVE MY PAYMENT IF THE GIGACLOUD CLASS ACTION LAWSUIT SETTLES?

​If there is a settlement in the GigaCloud class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold GigaCloud stock during the class period and suffered losses in GigaCloud stock.
 
The court will hold a final hearing in the GigaCloud class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the GigaCloud class action lawsuit. ​

HOW MUCH DOES IT COST TO HIRE A GIGACLOUD STOCK LOSS LAWYER IF I SUFFERED LOSSES IN GIGACLOUD STOCK?

​​If you suffered losses in GigaCloud ​stock and are a member of the class, it does not cost anything to hire a GigaCloud stock loss lawyer.  Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery, and the attorney fees and cost are awarded by the court as a percentage of the total recovery for the class.  So, contact a GigaCloud stock loss lawyer today if you suffered losses in GigaCloud ​stock about a GigaCloud class action lawsuit.

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 GigaCloud class action lawsuit. 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,​Class 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.