Investor News: Lawsuit alleges Securities Laws Violations by Shanda Games Limited (formerly NYSE: GAME)

An investor in shares of Shanda Games Limited (formerly NYSE: GAME) filed a lawsuit in the U.S over alleged violations of Federal Securities Laws by Shanda Games Limited.

Investors, who held shares of Shanda Games Limited (formerly NYSE: GAME) on November 18, 2015 or sold such shares between May 5, 2015 and November 18, 2015, have certain options and for certain investors are short and strict deadlines running. Deadline: May 21, 2018. NYSE: GAME investors should contact the Shareholders Foundation at or call +1(858) 779 – 1554.

The plaintiff claims that Shanda Games Limited issued allegedly materially false and misleading statements in Proxy Statements and other materials related to the proposed merger of Shanda with Capitalhold, thus inducing shareholders to sell their shares of Shanda common stock at artificially deflated prices or to refrain from exercising their appraisal rights.

On April 3, 2015, Shanda Games Limited announced that it has entered into a merger agreement to be taken private by a consortium consisting of Ningxia Zhongyin Cashmere International Group Co., Ltd., a shareholder of the company.

On Nov. 18, 2015, Shanda Games Limited announced that, at an extraordinary general meeting held today, the Company’s shareholders voted in favor of the proposal to authorize and approve the previously announced Agreement and Plan of Merger (the “Merger Agreement”) dated as of April 3, 2015, as amended and restated on September 23, 2015, among the Company, Capitalhold Limited (“Parent”) and Capitalcorp Limited, a wholly owned subsidiary of Parent (“Merger Sub”), pursuant to which Merger Sub will be merged with and into the Company with the Company continuing as the surviving company (the “Merger”) and to authorize and approve any and all transactions contemplated by the Merger Agreement, including the Merger.

Those who purchased shares of Shanda Games Limited (formerly NYSE: GAME) have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739