NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm announces that it is investigating potential securities claims against 21Vianet Group, Inc. (NASDAQ:VNET) resulting from allegations that the Company may have issued materially misleading business information to the investing public, namely, that the true volume and extent of its business in China is a fraction of what it purportedly claims in its filings to the U.S. Securities and Exchange Commission.
21Vianet provides carrier-neutral Internet data center (“IDC”) services in China. On September 10, 2014, Trinity Research Group issued a report asserting that 21Vianet has greatly exaggerated its true financial performance. The report states, among others things, that: the Company overstated the number of cabinets in its IDC network by at least 14.5% and their utilization by at least 11.1 percentage points; the Company claimed to be operating 72 data centers when in fact 31 of their outsourced data center partnerships have been terminated; the Managed Network Services business that the Company uses to make its acquisitions is run illegally; and the Company misrepresented the financials of at least two of its acquired companies by 51% in its SEC filings based on filings 21Vianet made to the Chinese authorities.
The Rosen Law Firm is preparing a class action lawsuit as a result of this adverse information. If you purchased 21Vianet securities on or before September 10, 2014 and would like to recover your losses, please visit the website at http://www.rosenlegal.com/cases-353.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq., or of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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