PR Newswire
NEW YORK, Feb. 8, 2024
NEW YORK, Feb. 8, 2024 /PRNewswire/ -- Attention VNET Group, Inc. ("VNET") (NASDAQ: VNET) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between April 8, 2022 and February 15, 2023.
If you suffered a loss on your investment in VNET, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/vnet-group-inc-class-action-submission-form/?prid=66247&wire=4
ABOUT THE ACTION: The class action against VNET includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) GenTao, which is owned by VNET, was experiencing financial difficulties and was at risk of defaulting on the facility agreement that VNET's co-founder, Josh Sheng Chen had entered into with Bold Ally; (2) as a result, there was a substantial likelihood that Bold Ally would acquire Sheng Chen's significant ownership stake in VNET; (3) to restore Sheng Chen's voting interest in VNET, the Company would issue newly created shares to Sheng Chen, diluting investors' interest; (4) 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.
DEADLINE: February 26, 2024
Aggrieved VNET investors only have until February 26, 2024 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong
