EQUITY ALERT: Rosen Law Firm Reminds 21Vianet Group Investors of Important Deadline in Class Action Filed by Firm - VNET

NEW YORK, Sept. 26, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds purchasers of 21Vianet Group, Inc. VNET securities between April 21, 2011 and September 10, 2014, inclusive of the important November 11, 2014 lead plaintiff deadline in the class action filed by the firm.

To join the 21Vianet class action, go to the website at http://rosenlegal.com/cases-353.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The suit filed by the firm is pending in U.S. District Court for the Eastern District of Texas.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, 21Vianet failed to disclose and/or materially misstated the Company's true financial condition. On September 10, 2014, Trinity Research Group issued a report asserting that 21Vianet has greatly exaggerated its true financial performance. The report states, among other things, that: the Company overstated the number of cabinets in its IDC network by at least 14.5% and their utilization by at least 11.1%; the Company claimed to be operating 72 data centers when in fact 31 of their outsourced data center partnerships have been terminated; the Managed Network Services business that the Company uses to make its acquisitions is run illegally; and the Company misrepresented the financials of at least two of its acquired companies by 51% in its SEC filings based on filings made to the Chinese authorities. When this adverse information entered the market, the suit claims investors were damaged.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 11, 2014. If you wish to join the litigation go to http://rosenlegal.com/cases-353.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com