VNET Group, Inc. (VNET)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of VNET Group, Inc. (“VNET” or “the Company”) (NASDAQ: VNET). Investors who purchased VNET securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether VNET has violated federal securities laws.
On February 15, 2023, VNET disclosed that its board of directors had approved and authorized the issuance of up to 555,000 newly created Class D ordinary shares to the Executive Chairman of the Board. The Company claimed that 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.” Additionally, the Company 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.” On this news, the Company’s stock price fell $0.10 per share, or 1.99%, to close at $4.92 per share on February 15, 2023.
If you are aware of any facts relating to this investigation or purchased VNET securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]