VNET Group, Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of VNET Group, Inc. (NASDAQ: VNET) between April 8, 2022 and February 15, 2023, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 26, 2024.

If you purchased VNET securities during the Class Period and would like to join the action, please click “Join This Class Action.”

Class Period:April 8, 2022 through February 15, 2023
If you purchased VNET securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about VNET’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that:

  • GenTao Capital Limited was experiencing financial difficulties and was at risk of defaulting on the facility agreement;
  • as a result, there was a substantial likelihood that Bold Ally (Cayman) Limited would acquire defendant Sheng Chen’s significant ownership stake in VNET;
  • to restore defendant Sheng Chen’s voting interest in VNET, VNET would issue newly created shares to defendant Sheng Chen, diluting investors’ interest; and
  • as a result of the foregoing, defendants’ positive statements about VNET’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: VNET Group, Inc.
Stock Symbol: VNET
Class Period: April 8, 2022 through February 15, 2023
Court: United States District Court Southern District of New York

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

Institutional Shareholders Services ranked the Rosen Law Firm # 1 for the number of securities class action recoveries in 2017.

The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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