BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the October 1, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased GDS Holdings Limited (“GDS” or the “Company”) (NASDAQ: GDS) securities between November 2, 2016 and July 31, 2018, inclusive (the “Class Period”). GDS investors have until October 1, 2018 to file a lead plaintiff motion.
Investors suffering losses on their GDS investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On July 31, 2018, Blue Orca Capital published a report alleging that “GDS is borrowing crippling amounts of debt to enrich insiders by acquiring data centers from undisclosed related parties which are not nearly as valuable as the Company claims.” On this news, the Company’s share price fell $12.92, or more than 37%, to close at $21.83 per share on July 31, 2018, thereby injuring investors.
The complaint filed in this class action alleges that, Defendants made false and/or misleading statements and/or failed to disclose that: (1) GDS Holdings overstated the value of certain data centers it had acquired; (2) GDS Holdings failed to maintain adequate internal controls; and (3) as a result, defendants’ statements about GDS Holdings’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
If you purchased shares of GDS during the Class Period you may move the Court no later than October 1, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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