GDS HOLDINGS LIMITED INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against GDS Holdings Limited
NEW YORK, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against GDS Holdings Limited (“GDS” or the “Company”) (NASDAQ: GDS) on behalf of investors who purchased GDS American Depositary Receipts (ADRs) between March 29, 2018 through July 31, 2018, inclusive (the “Class Period”).
Investors who have incurred losses in the ADRs of GDS Holdings Limited are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the ADRs of GDS Holdings Limited, you may, no later than October 1, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in GDS Holdings Limited.
The filed complaint alleges that, Defendants made false and/or misleading statements and/or failed to disclose that:
-- GDS Holdings overstated the value of certain data centers it had acquired; -- GDS Holdings failed to maintain adequate internal controls; and -- as a result, defendants’ statements about GDS Holdings’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
On July 31, 2018, Blue Orca Capital published a report alleging 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.” On this news, the Company’s share price fell $12.92, or more than 37%, to close at $21.83 per share on July 31, 2018.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org Tel: (800) 575-0735 or (212) 545-4774
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