World Of Warcraft Operator Sued For Securities Fraud

Law360, New York (October 21, 2009, 7:48 PM EDT) -- A shareholder has filed a putative class action against Chinese gaming company The9 Ltd. and its principals, claiming the World of Warcraft operator's financial reports enticed investors to purchase stock at inflated prices.

The complaint, filed Wednesday by named plaintiff Lawrence F. Glaser in the U.S. District Court for the Southern District of New York, also names The9 CEO Jun Zhu and President Xiaowei Chen as defendants.

According to the suit, during the class period — Nov. 15, 2006, to July 15 – the company licensed...
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