NEW ORLEANS, Aug. 17, 2018 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until October 1, 2018 to file lead plaintiff applications in securities class action lawsuits against GDS Holdings Limited (NasdaqGM: GDS), if they purchased the Company’s securities between November 2, 2016 and July 31, 2018, inclusive (the “Class Period”). The actions are pending in the United States District Courts for the Eastern District of Texas and Southern District of New York.
GDS investors should visit us at https://www.claimsfiler.com/cases/view-gds-holdings-limited-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
GDS and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 31, 2018, Blue Orca Capital reported 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.”
On this news, the price of GDS shares plummeted.
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