The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Eastern District of New York on behalf of all persons and entities that either held publicly-traded Changyou.com Limited (NYSE: CYOU) (“Changyou”) American Depository Shares on April 23, 2020 or sold such shares during the period between February 14, 2020 and April 23, 2020.
According to the filed complaint, documentation filed jointly by Changyou and its acquirer, Sohu.com Limited (NASDAQ: SOHU) (“Sohu”) was false and misleading because it did not support the disclosed legal conclusions and it is at odds with the text of the relevant Cayman Islands statute regarding appraisal rights. Moreover, the Company failed to disclose other rights that may be available to Changyou shareholders under Cayman Islands law, in clear violation of the federal securities laws.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until February 8, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.