Rosen Law Firm has recently announced the filing of a class action lawsuit on behalf of purchasers of GDS Holdings Limited securities
Rosen Law Firm, a global investor rights law firm, has recently announced the filing of a class action lawsuit on behalf of purchasers of GDS Holdings Limited securities. The lawsuit covers a specific period and aims to recover damages for investors under federal securities laws. This development sheds light on alleged false and misleading statements made by the defendants during the Class Period, raising concerns about potential consequences for the company and its shareholders.
According to the lawsuit, defendants associated with GDS Holdings Limited are accused of engaging in false and/or misleading statements and/or failing to disclose crucial information. Among the alleged misconduct is the claim that Defendant Huang had been involved in undisclosed pre-paid forward sale contract transactions as early as May 2020. The lawsuit argues that such transactions posed a risk of Defendant Huang's ownership falling below 5% of the company's outstanding shares. Importantly, the lawsuit emphasizes that if Huang's ownership did dip below the critical threshold, it would result in a change of control of the Company. The potential ramifications of this change, as admitted by the Company, are deemed to be potentially disastrous. As a result, the lawsuit contends that the defendants' statements about GDS Holdings Limited's business, operations, and prospects were materially false and misleading and lacked a reasonable basis throughout the Class Period. The revelation of these alleged details in the market is said to have caused damages to investors.
Notably, a class action lawsuit has already been filed, providing an opportunity for affected investors to participate. To serve as the lead plaintiff, interested parties must move the Court no later than August 21, 2023. The lead plaintiff acts as the representative party leading the litigation on behalf of other class members. If you wish to join the litigation or discuss your rights and interests regarding this class action, you can visit the Rosen Law Firm website at https://rosenlegal.com/submit-form/?case_id=17143. Alternatively, you may contact Phillip Kim, Esq. of Rosen Law Firm, toll-free at 866-767-3653, or reach out via email at email@example.com or firstname.lastname@example.org.
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