Post by david on Sept 15, 2014 14:16:33 GMT -5
Look at VNET. Market Cap 1.42B
"We rate VNET a zero due to overwhelming evidence that the company is committing accounting and securities fraud. We expect VNET will end up delisted from the Nasdaq." (Page 6)
"Since listing in 2011, VNET has reported fraudulent financials and operating metrics. At least 31% of total revenue and 100% of EBITDA is fabricated (see Exhibit 1). An incremental one third of total revenue is illicitly derived and therefore worthless."
On September 10, 2014, Trinity issued a report alleging that 21Vianet greatly exaggerated its financial performance and was essentially operating a complicated Ponzi scheme. The report claims that: 21Vianet overstated its IDC network by at least 14.5% and its utilization rates by at least 11.1 percentage points; the Company claims that it operated 60 partnered data centers, but concealed the fact that 31 of these partnerships had been terminated; and the Company misrepresented the financials of a number of companies it has recently acquired in its SEC filings based on information submitted to Chinese authorities.
It dropped from 31.29 to 15.52 but now is 21.58. Gained 6.06
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Texas on behalf of a class (the “Class”) comprising purchasers of the American Depositary Shares of 21Vianet Group, Inc. (“21Vianet” or the “Company”) (VNET) between April 21, 2011 and September 10, 2014, inclusive (the “Class Period”).
NEW YORK, Sept. 12, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announces that it has filed a class action lawsuit on behalf of purchasers of 21Vianet Group, Inc. (VNET) securities between April 21, 2011 and September 10, 2014, inclusive. The lawsuit seeks to recover damages for 21Vianet shareholders under the federal securities laws.
Why is this stock still going up?
And here is MNKD Market Cap 2.46B with Alfred E. Mann who has done more to improve the lives of so many people, and it seems to me all a lot of people want to do is destroy Mannkind.
and we are at$6.40
Makes no sense to me.
"We rate VNET a zero due to overwhelming evidence that the company is committing accounting and securities fraud. We expect VNET will end up delisted from the Nasdaq." (Page 6)
"Since listing in 2011, VNET has reported fraudulent financials and operating metrics. At least 31% of total revenue and 100% of EBITDA is fabricated (see Exhibit 1). An incremental one third of total revenue is illicitly derived and therefore worthless."
On September 10, 2014, Trinity issued a report alleging that 21Vianet greatly exaggerated its financial performance and was essentially operating a complicated Ponzi scheme. The report claims that: 21Vianet overstated its IDC network by at least 14.5% and its utilization rates by at least 11.1 percentage points; the Company claims that it operated 60 partnered data centers, but concealed the fact that 31 of these partnerships had been terminated; and the Company misrepresented the financials of a number of companies it has recently acquired in its SEC filings based on information submitted to Chinese authorities.
It dropped from 31.29 to 15.52 but now is 21.58. Gained 6.06
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Texas on behalf of a class (the “Class”) comprising purchasers of the American Depositary Shares of 21Vianet Group, Inc. (“21Vianet” or the “Company”) (VNET) between April 21, 2011 and September 10, 2014, inclusive (the “Class Period”).
NEW YORK, Sept. 12, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announces that it has filed a class action lawsuit on behalf of purchasers of 21Vianet Group, Inc. (VNET) securities between April 21, 2011 and September 10, 2014, inclusive. The lawsuit seeks to recover damages for 21Vianet shareholders under the federal securities laws.
Why is this stock still going up?
And here is MNKD Market Cap 2.46B with Alfred E. Mann who has done more to improve the lives of so many people, and it seems to me all a lot of people want to do is destroy Mannkind.
and we are at$6.40
Makes no sense to me.
