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The9 CEO: Plaintiffs Have No Case
Online game company The9 (Nasdaq:NCTY) Chairman and CEO Zhu Jun said he believes claims brought by The9 shareholders in a suit against the company are groundless and lack legal basis, Oriental Morning Post reported October 23.
Reports yesterday said The9 shareholders filed a class action lawsuit accusing the company of violating the Securities Exchange Act of 1934 by making inaccurately positive statements about company finances between November 15, 2006 and July 15, 2009.
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