[December 30, 2015]

Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of VimpelCom Ltd. Investors

Glancy Prongay & Murray LLP ("GPM") announces the filing of a class action lawsuit on behalf of investors of VimpelCom Ltd. ("VimpelCom" or the "Company") (NASDAQ: VIP) who purchased shares between June 30, 2011 and November 2, 2015, inclusive (the "Class Period") and have been damaged by the recent declines in the Company's stock price. VimpelCom investors have until January 4, 2016 to file a lead plaintiff motion.

On March 12, 2014, the Company disclosed that it was facing investigations by both the SEC (News - Alert) and Dutch authorities related to its operations in Uzbekistan. Then, on March 18, 2014, the Company announced that the U.S. Department of Justice had started an investigation into VimpelCom's operations in Uzbekistan. And, in August 2015, U.S. authorities allegedly requested that roughly $1 billion in VimpelCom assets be seized in a wide-ranging criminal probe of alleged corrupion by the Company and two other companies, Mobile TeleSystems (News - Alert) PJSC and TeliaSonera AB, for paying hundreds of millions of dollars in bribes to secure wireless spectrum in Uzbekistan. Finally, on November 3, 2015, the Company announced that it had set aside $900 million in litigation costs to deal with the U.S. and European investigations into its Uzbekistan operations. VimpelCom investors have suffered greatly by the sharp decline in the Company's share price following these various disclosures.

The filed complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (i) VimpelCom had paid tens of millions of dollars to a company controlled by Gulnara Karimova ("Karimova"), daughter of the president of Uzbekistan; (ii) the payments to Karimova were unlawful bribes intended to secure VimpelCom's access to Uzbekistan's telecommunications market; and (iii) as a result of the foregoing, Defendants' statements about VimpelCom's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

If you purchased VimpelCom securities during the Class Period, have information or 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151230005564/en/

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