SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of 21Vianet Group, Inc. - VNET

NEW YORK, Sept. 11, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of 21Vianet Group, Inc. ("21Vianet" or the "Company") VNET.  Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.

The investigation concerns whether 21Vianet and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

On September 10, 2014, Trinity Research reported that 21Vianet has greatly exaggerated its true financial performance. The report states, among others 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 percentage points; 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 21Vianet made to the Chinese authorities.

On this news, shares of 21Vianet Group, Inc. fell $3.41 per share to $16.71, or more than 16.95%, in intraday trading on September 11, 2014.

The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

SOURCE Pomerantz LLP