GDS HOLDINGS INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates GDS Holdings Limited for Possible Securities Fraud - (GDS)
NEW ORLEANS--(BUSINESS WIRE)--Jul 31, 2018--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into GDS Holdings Limited (NasdaqGM: GDS).
On July 31, 2018, a report published by Blue Orca Capital alleged that “GDS is borrowing crippling amounts of debt to enrich insiders by acquiring data centers from undisclosed related parties which are not nearly as valuable as the Company claims. We believe that since becoming a public Company, GDS has borrowed recklessly to siphon off at least RMB 696 million to insiders by inflating the purchase price of undisclosed related party acquisitions.” Further, the report stated that Blue Orca had uncovered evidence of “unrelated data center operators selling a substantial amount of empty cabinet space in a building which is supposedly exclusively operated and 94% utilized by GDS.”
On this news, the price of GDS Holdings shares plummeted.
KSF’s investigation is focusing on whether GDS Holdings and/or its officers and directors violated state or federal securities laws.
If you are a GDS Holdings shareholder and have suffered losses, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ( firstname.lastname@example.org ), or visit https://www.ksfcounsel.com/cases/nasdaqgm-gds/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180731005918/en/
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, 877-515-1850
KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kahn Swick & Foti, LLC
Copyright Business Wire 2018.
PUB: 07/31/2018 07:30 PM/DISC: 07/31/2018 07:30 PM