According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

• Defendant William Wei Huang (“Defendant Huang”), GDS’s founder, Chief Executive Officer (“CEO”), and Chairman of the Board of Directors, had engaged in undisclosed pre-paid forward sale contract transactions as early as May 2020;
• this presented a risk of Defendant Huang’s ownership going below 5% of the Company’s outstanding shares;
• if Huang’s ownership dipped below 5%, it would result in a change of control of the Company which, as the Company admitted, could result in disastrous consequences; and
• as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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