Globe Newswire 10-Aug-2018 3:03 PM
NEW YORK, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of American Express Company ("GDS" or the "Company") (NASDAQ:GDS). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether GDS and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 31, 2018, Blue Orca Capital published a report alleging, among other issues, that GDS had borrowed heavily in order to enrich insiders by acquiring data centers from undisclosed related parties, and that these data centers were significantly less valuable than GDS claimed.
On this news, GDS's stock price fell $12.92 per share, or 37.18%, to close at $21.83 per share on July 31, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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 80 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.
Robert S. Willoughby
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