Deadline on February 26th coming up in Lawsuit for certain Investors in shares of VNET Group, Inc. (NASDAQ: VNET)

A deadline is coming up on February 26, 2024 in the lawsuit filed for certain investors of VNET Group, Inc. (NASDAQ: VNET) over alleged securities laws violations by VNET Group, Inc.

Investors who purchased shares of VNET Group, Inc. (NASDAQ: VNET) have certain options and there are strict and short deadlines running. Deadline: February 26, 2024. VNET Group, Inc. (NASDAQ: VNET) stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of VNET Group, Inc. (NASDAQ: VNET) common shares between April 8, 2022 and February 15, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 8, 2022 and February 15, 2023, that the Defendants failed to disclose to investors that GenTao was experiencing financial difficulties and was at risk of defaulting on the Facility Agreement, that, as a result, there was a substantial likelihood that Bold Ally would acquire Defendant Sheng Chen's significant ownership stake in VNET, that, to restore Defendant Sheng Chen's voting interest in VNET, the Company would issue newly created shares to Defendant Sheng Chen, diluting investors' interest, that, 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.

Those who purchased shares of VNET Group, Inc. (NASDAQ: VNET) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.