Courtesy of Benzinga
The9 Limited (NASDAQ: NCTY), an online game operator and developer in China, announced today that on May 20, 2011 the United States District Court for the Southern District of New York entered an order dismissing with prejudice the Consolidated Complaint in Glaser v. The9 Ltd. et al. Securities Litigation, Civil Action No. 1:09-cv-08904-RJH, a securities class action alleging that the company and certain individual defendants engaged in securities fraud. On March 28, 2011 the case was dismissed with leave to amend. On May 12, 2011 the plaintiffs filed a stipulation of voluntary dismissal.
About The9 Limited
The9 Limited is an online game operator and developer in China. The9 directly, or through affiliates, operates licensed MMORPGs including Soul of The Ultimate Nation(TM), Atlantica and Kingdom Heroes 2 Online in mainland China. The9 has also obtained exclusive licenses to operate other online games in mainland China, including Seoyugi, Planetside 2 and Free Realms. In addition, The9 operates its proprietary MMORPG World of Fighter, and web and SNS game Winning Goal, in mainland China and overseas. The9 is also developing various proprietary games, including ShenXianZhuan, Firefall and other MMORPG, web and SNS games. In 2010, The9 established its Mobile Business Unit to focus on mobile internet business.
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