NEW
YORK, June 30, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit
has commenced on behalf of shareholders of GDS Holdings Limited
(NASDAQ: GDS).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/gds-holdings-class-action-loss-submission-form/?id=41543&from=4
The lawsuit seeks to recover losses for shareholders who
purchased GDS Holdings between April 12,
2021 and April 3, 2023.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
August 21, 2023 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, GDS Holdings Limited issued
materially false and/or misleading statements and/or failed to
disclose that: (1) Defendant and GDS CEO William Wei had engaged in undisclosed pre-paid
forward sale contract transactions as early as May 2020; (2) this presented a risk of Defendant
Huang's ownership going below 5% of the Company's outstanding
shares; (3) if Huang's ownership dipped below 5%, it would result
in a change of control of the Company which, as the Company
admitted, could result in disastrous consequences; and (4) as a
result, defendants' statements about its business, operations, and
prospects, were materially false and misleading and/or lacked a
reasonable basis at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law