LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired securities or American Depositary Shares (“ADS”) of Shanda Games Limited (“Shanda” or the “Company”) ( Formerly listed NASDAQ: GAME) between May 5, 2015 and November 18, 2015, inclusive (the “Class Period”). Shanda investors have until May 21, 2018 to file a lead plaintiff motion.
To obtain information or actively participate in the class action, please visit Shanda page on our website at www.glancylaw.com/case/shanda-games-limited. Investors that suffered losses on their Shanda investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
On May 5, 2015, Shanda filed its initial Proxy Statement with the SEC in connection with the merger of Shanda and Capitalhold Limited (the “Merger”), and filed amendments to the Proxy Statement through October 13, 2015. The Proxy Statement solicited the Company’s stockholders to vote in favor of the Merger. Defendants were obligated to carefully review the Proxy Statement before it was filed with the SEC and disseminated to the Company’s shareholders to ensure that it did not contain any material misrepresentations or omissions. However, the complaint filed in this class action alleges that the Proxy Statement misrepresented and/or omitted material information that was necessary for the Company’s stockholders to make an informed decision concerning whether to vote in favor of the Merger and/or seek appraisal rights, as well as information necessary to determine the true value of Shanda common stock, in violation of Sections 10(b), 14(a) and 20(a) of the Exchange Act. The complaint further alleges that Shanda’s actions injured shareholders.
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If you purchased shares of Shanda during the Class Period you may move the Court no later than May 21, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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