VNET

VNET

ATLANTA, GA – – (Globe Newswire – February 20, 2024) – – Holzer & Holzer, LLC reminds investors of the upcoming February 26, 2024 Lead Plaintiff deadline in the VNET Group (“VNET” or the “Company”) (NASDAQ: VNET) class action lawsuit. The lawsuit alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the complaint alleges Defendants failed to disclose to investors: (1) that GenTao was experiencing financial difficulties and was at risk of defaulting on the Facility Agreement; (2) that, as a result, there was a substantial likelihood that Bold Ally would acquire Defendant Sheng Chen’s significant ownership stake in VNET; (3) that, to restore Defendant Sheng Chen’s voting interest in VNET, the Company would issue newly created shares to Defendant Sheng Chen, 3 diluting investors’ interest; (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis throughout the Class Period.

If you bought VNET shares between April 8, 2022 and February 15, 2023 and suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com or by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/vnet/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is February 26, 2024.

 

Registration Deadline

Lead Plaintiff Deadline Has Passed

February 26, 2024

Submit Your Information

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Date of Shares Purchased
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Shares Sold
Date of Shares Sold
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