INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against VNET Group, Inc. and Encourages Investors with Losses to Contact the Firm
News provided byACCESSWIRE
Sep 19, 2023, 8:45 AM ET
LOS ANGELES, CA / ACCESSWIRE / September 19, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of VNET Group, Inc. ("VNET" or "the Company") (NASDAQ:VNET) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. VNET issued a press release on February 15, 2023, announcing that "its board of directors (the "Board") approved and authorized the issuance of up to 555,000 newly created Class D ordinary shares to Mr. Sheng Chen, the Executive Chairman of the Board. The Class D ordinary shares will have the same rights as the Company's existing Class B ordinary shares except for voting rights, and holders of Class D ordinary shares shall be entitled to 500 votes per share on all matters submitted to shareholder vote." The Company further stated that the "issuance of the newly created Class D ordinary shares is an initiative by the Board to protect the Company's interests and continued stability."
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm
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