'World Of Warcraft' Operator Ducks Securities Action

Law360, New York (March 28, 2011, 7:26 PM EDT) -- A New York federal judge on Monday threw out a putative securities class action against "World of Warcraft" operator The9 Ltd., saying plaintiffs didn't show that the company knew it would lose a key license and see its stock fall.

Judge Richard J. Holwell in the U.S. District Court for the Southern District of New York granted a motion to dismiss the case because plaintiffs failed to adequately plead scienter, finding that they hadn't shown the company or its principals had a motive to mislead investors...
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Case Information

Case Title

Glaser v. The9, Ltd. et al


Case Number

1:09-cv-08904

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Richard J. Holwell

Date Filed

October 21, 2009

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