Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of all Persons and Entities that Purchased and/or Otherwise Acquired the American Depositary Shares of VNET Group, Inc. (VNET)

NEW YORK, June 10, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit all persons and entities that purchased or otherwise acquired the American Depositary Shares of VNET Group, Inc. (NASDAQ: VNET):

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS Action AND MOTION FOR ATTORNEYS’ FEES AND EXPENSES

To: All Persons who purchased or otherwise acquired the American Depositary Shares (“ADSs”) of VNET Group, Inc. (“VNET”) (“VNET ADSs”) from March 23, 2022 through February 17, 2023, both dates inclusive (the “Class Period”), and were damaged thereby (the “Settlement Class”). Excluded from the Settlement Class are Defendants, any former or current officer or director of VNET, any entity in which any of the above has or had a 10% or greater interest, and any affiliates, family members, legal representatives, heirs, successors, or assigns of any of the persons or entities described in this sentence. Any persons or entities which exclude themselves by submitting a timely and valid request for exclusion that is accepted by the Court are also excluded.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that Court-appointed Lead Plaintiff Wong Tan and Additional Plaintiff Michael Semerak (collectively, “Plaintiffs”), on behalf of themselves and all members of the proposed Settlement Class, and VNET, Josh Sheng Chen, Jie Dong, Samuel Shen, and Tim Chen (the “Defendants”), have reached a proposed settlement of the claims in the above-captioned class action (the “ Action ”) in the amount of $5.875 million (the “Settlement”).

A hearing will be held before the Honorable Dale E. Ho, either in person or remotely in the Court’s discretion, on August 27, 2026, at 11:00 a.m. in Courtroom 905 of the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, New York 10007 (the “Settlement Hearing”) to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated April 3, 2026; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the “Net Settlement Fund”) to Settlement Class Members; and (iv) approve Lead Counsel’s Fee and Expense Application. The Court may change the date of the Settlement Hearing, or hold it remotely, without providing another written notice. Information about the hearing will be posted at www.strategicclaims.net/VNET/. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Notice of Pendency of Class Action , Proposed Settlement, and Motion for Attorneys’ Fees and Expenses (“Notice”) and Proof of Claim and Release Form (“Claim Form”), you may obtain copies of these documents by visiting www.strategicclaims.net/VNET/ or by contacting the Claims Administrator at:

VNET Securities Settlement
c/o Strategic Claims Services
600 N. Jackson St., Suite 205
Media, PA 19063
Toll-Free: (866) 274-4004
Fax: (610) 565-7985
Email: info@strategicclaims.net

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:

POMERANTZ LLP
Joshua B. Silverman, Esq.
10 South LaSalle, Suite 3505
Chicago, Illinois 60603
www.pomlaw.com
(312) 377-1181
jbsilverman@pomlaw.com

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form to the Claims Administrator postmarked or submitted online no later than August 20, 2026. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion to the Claims Administrator in accordance with the instructions set forth in the Notice so that it is received no later than August 6, 2026. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Lead Counsel’s Fee and Expense Application, and/or the proposed Plan of Allocation must be served by mail, email, or in person, upon the Claims Administrator and counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than August 6, 2026.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.

DATED: MAY 5, 2026

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK