The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of GDS Holdings Limited (NASDAQ: GDS) who purchased shares between November 2, 2016 and July 31, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the GDS lawsuit alleges that (1) the Company has overstated its utilization and occupancy rates; (2) the Company has made acquisitions with related parties at inflated prices; (3) it has used suspect capital and debt raisings despite large off-shore cash reserves; (4) it has adopted unorthodox accounts receivable and payable practices; and (5) that, as a result of the foregoing, Defendant's statements about GDS' business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Shareholders have until October 1, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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