ChinaCache International Holdings Ltd is a provider of Internet content and application delivery services in China. It also offers Internet data center management, Internet Exchange operations and cloud hosting services.

According to the law firm press release, the lawsuit alleges that throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that (1) the platform migration to HPCC was not successful; (2) the platform migration to HPCC posed the risk of a negative impact on the Company’s financial performance; (3) as a result of the unsuccessful migration, the Company’s revenue for the second quarter of 2015 would be below expectations; and (4) as a result, the Company’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On August 15, 2016, the Court issued an Order granting Defendant's Motion to Dismiss. Plaintiffs were given leave to file an amended Complaint. Plaintiffs filed an amended Complaint on September 14.

On March 1, 2017, the Court issued an Order granting Defendants' Motion for Judgment on the Pleadings. Judgment was entered and this case was dismissed.

On March 6, 2017, Plaintiffs filed a Notice of Appeal of the above Order.

On March 27, 2018, the parties entered into a Stipulation of Settlement. The Court issued an Order granting preliminary approval of the Settlement on April 30. On August 23, the Court granted final approval of the Settlement and entered Final Judgment. On October 26, Plaintiffs voluntarily dismissed their appeal of the dismissal. On November 15, the Court issued an Order granting Lead Plaintiff's Motion for Distribution of Settlement funds.