NEW YORK, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against GDS Holdings Limited (NASDAQ:GDS). Our investigation concerns whether GDS has violated the federal securities laws and/or engaged in other unlawful business practices.
On July 31, 2018, Blue Orca Capital published an article stating 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.” The article continued to say that Blue Orca Capital exposed evidence of “unrelated data center operators selling a substantial amount of empty cabinet space in a building which is supposedly exclusively operated and 94% utilized by GDS.”
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.
If you purchased or otherwise acquired GDS shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into GDS Holdings Limited please go to https://bespc.com/gds/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com