NEW ORLEANS, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 1, 2018 to file lead plaintiff applications in securities class action lawsuits against GDS Holdings Limited (NasdaqGM: GDS), if they purchased the Company’s securities between November 2, 2016 and July 31, 2018, inclusive (the “Class Period”). The actions are pending in the United States District Courts for the Eastern District of Texas and Southern District of New York.
What You May Do
If you purchased securities of GDS and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgm-gds/ to learn more. If you wish to serve as a lead plaintiff in these class actions, you must petition the Court by October 1, 2018.
About the Lawsuits
GDS and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 31, 2018, Blue Orca Capital reported 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. We believe that since becoming a public Company, GDS has borrowed recklessly to siphon off at least RMB 696 million to insiders by inflating the purchase price of undisclosed related party acquisitions.”
On this news, the price of GDS shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163