Shareholders Sue The9 Over WoW Losses
October 30, 2009 by Joel Tan
Filed under MMORPG, MMORPG News, The9
Talk about adding insult to injury. After losing the license to World of Warcraft and failing to come out with another hit massively multiplayer online role-playing game, China-based online games operator The9 has been sued by its shareholders for allegedly violating the Securities Exchange Act of 1934 by making inaccurate statements about its finances between November 15th, 2006 and July 15th, 2009.
Oh, and we’re not talking about some law in China but the Securities Exchange Act of 1934, the law governing the secondary trading of stocks, bonds and the like in the United States of America.
High-profile law firm Coughlin Stoia …read more
