LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of 21Vianet Group, Inc. (“21Vianet” or the “Company”) (NASDAQ:VNET) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company concerning 21Vianet’s business, operations and financial performance.
Please contact Lesley Portnoy at (888) 773-9224 or (310) 201-9150, or at email@example.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
21Vianet provides carrier-neutral Internet data center services to Internet companies, government entities, blue-chip enterprises and small- to mid-size enterprises in the People’s Republic of China. The investigation is related to a report published September 10, 2014, by Trinity Research Group, which claims the Company has exaggerated its financial performance. According to the Trinity report, 21Vianet has, among other things: (i) overstated the number of cabinets in its IDC network by at least 14.5% and their utilization by at least 11.1 percentage points; (ii the Company claimed to be operating 72 data centers, of which 12 are self-built and 60 are partnered; (iii) 31 of the 60 of the Company’s outsourced data center partnerships have been terminated; and (iv) the Company misrepresented the financials of at least two of its acquired companies in its filings with the U.S. Securities and Exchange Commission, based on filings 21Vianet made to the Chinese authorities.
Following this news, shares of 21Vianet fell as low as $16.55 per share, or nearly 18%, on September 11, 2014.
If you purchased 21Vianet shares, if you have information or would like to learn more about these claims and have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by toll-free telephone at (888) 773-9224 or by telephone at (310) 201-9150, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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