San Diego, CA -- (SBWIRE) -- 09/22/2014 -- An investor, who purchased shares of 21Vianet Group Inc (NASDAQ:VNET), filed a lawsuit in the U.S. District Court for the Eastern District of Texas over alleged violations of Federal Securities Laws by 21Vianet Group Inc in connection with certain allegedly false and misleading statements made between April 21, 2011 and September 10, 2014.

Investors who purchased shares of 21Vianet Group Inc (NASDAQ:VNET) have certain options and for certain investors are short and strict deadlines running. Deadline: November 11, 2014. NASDAQ:VNET investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554

According to the complaint the plaintiff alleges on behalf of purchasers of 21Vianet Group Inc (NASDAQ:VNET) common shares between April 21, 2011 and September 10, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that 21Vianet Group Inc misrepresented its true financial performance

21Vianet Group Inc reported that its annual Total Revenue rose from over $1.02 billion in 2011 to over $1.96 billion in 2013. Shares of 21Vianet Group Inc (NASDAQ:VNET) grew from $8.65 per share to as high as $31.96 per share in July, respectively $31.29 per share in August 2014.

Then on September 10, 2014, a report by Trinity Research Group was published that criticized 21Vianet Group Inc’s business practices. Specifically, the report alleged that 21Vianet Group Inc's Chinese operations are equivalent to a ponzi scheme. According to a Trinity Research September 2014 121-page report, there is “Overwhelming evidence that the company is committing accounting and securities fraud." The report stated that revenues were being overstated and 21Vianet Group Inc will likely be delisted from the NASDAQ market exchange

Shares of 21Vianet Group Inc (NASDAQ:VNET) declined from $28 per share on September 8, 2014, to as low as $14.23 per share during Septmber 10, 2014.

On September 18, 2014, NASDAQ:VNET shares closed at $20.04 per share.

Those who purchased shares of 21Vianet Group Inc (NASDAQ:VNET) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com