Investor Seeks Preliminary Approval Of $9M Securities Class Action Settlement

Mealey's (April 12, 2018, 1:56 PM EDT) -- MARSHALL, Texas — A federal judge should grant preliminary approval of a $9 million settlement agreement in a securities class action lawsuit against a Chinese carrier-neutral internet data center services provider and certain of its current and former senior executives over their involvement in a “round-tripping” revenue inflation scheme because the settlement is fair and reasonable and meets all statutory requirements for approval, the lead plaintiff in the action argues in an April 9 motion for preliminary approval of settlement filed in Texas federal court (Ranjit Singh v. 21Vianet Group Inc., et al., No. 14-0894, E.D. Texas.)....