GDS Holdings $3 Million ADS Securities Settlement

If you purchased GDS Holdings Limited American Depositary Shares (ADS) between July 13, 2020, and April 3, 2023, you may be eligible to claim compensation from a class action settlement.

GDS Holdings Limited has agreed to pay $3,000,000 to settle a class action lawsuit for alleged misrepresentations in their financial statements.

Who can file a claim?

To be part of the settlement class, you must have purchased GDS American Depositary Shares between July 13, 2020, and April 3, 2023.

How much can class members get?

The estimated recovery is approximately $0.04 per damaged GDS ADS after deductions for fees and expenses. The actual amount you receive will depend on:

• The total number of claims filed.
• The dates and prices of your GDS ADS transactions.
• The total recognized losses of all claimants.

For example, if your recognized loss is $100 and the total recognized losses are $1,000,000, you would receive a pro rata share of the net settlement fund.

• Recognized Loss Calculation:
• For shares purchased and sold during the Settlement Class Period, the Recognized Loss per share shall be zero
• For shares purchased during the Settlement Class Period and sold on April 4, 2023, the Recognized Loss shall be the lesser of $0.66 per share or the difference between the purchase price per share and the sales price per share
• For shares purchased during the Settlement Class Period and sold during the period April 5, 2023, through July 3, 2023, the Recognized Loss shall be the lesser of $1.01 per share or the difference between the purchase price per share and the average closing ADS price as of the date of sale
• For shares purchased during the Settlement Class Period and retained as of the close of trading on July 3, 2023, the Recognized Loss shall be the lesser of $1.01 per share or the purchase price per share minus $13.10 per share

What documentation is needed to file a claim?

Claimants must provide proof of their transactions in GDS ADS like stockbroker’s confirmation slips or statements.

How to claim an award

To claim an award, you must submit a Proof of Claim form by January 13, 2025.

You can file a claim online or mail your form to the claims administrator:

GDS Holdings Limited Securities Litigation

c/o Strategic Claims Services

600 N. Jackson St., Ste. 205

P.O. Box 230

Media, PA 19063

$3 Million settlement fund

The settlement fund of $3,000,000 will cover:

• Attorneys’ fees up to $900,000.
• Litigation expenses up to $55,000.
• Awards to plaintiffs not exceeding $6,000.
• Remaining funds distributed to class members.

Important dates

• Fairness Hearing: February 10, 2025
• Deadline to File a Claim: January 13, 2025

When is the GDS Holdings Limited payout date?

After the fairness hearing on February 10, 2025, the court will decide whether to approve the settlement. If approved, payments will be distributed to eligible claimants.

Why is there a class action settlement?

The lawsuit alleged that GDS Holdings Limited made false and misleading statements in their financial disclosures, impacting the stock price. The settlement avoids the risks and costs of continued litigation.