GlobeNewswire Inc | Jan 23, 2022 01:39PM EST

January 23, 2022

NEW YORK, Jan. 23, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Chindata Group Holdings Limited (Chindata or the Company) (NASDAQ: CD). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Chindata and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On December 3, 2021, Chindata issued a press release announc[ing] its Chief Executive Officer (CEO), Mr.Jing Ju, effective immediately, would no longer serve in the CEO position, or member of the Company's Compensation Committee and the Corporate Governance and Nominating Committee and that Mr. Fei Xu will serve as the interim CEO, while the search for a permanent CEO will commence immediately. On this news, Chindatas stock price fell $2.90 per share, or 32.88%, to close at $5.92 per share on December 3, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980