This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Izard Nobel LLP Announces Class Action Lawsuit Against The9, Ltd. 2009-10-23 14:23 ET - News Release WEST HARTFORD, CT
-- (MARKET WIRE)
-- 10/23/09 
The law firm of Izard Nobel LLP, which
has significant experience representing investors in prosecuting claims of
securities fraud, announces that a lawsuit seeking class action status has
been filed in the United States District Court for the Southern District of
New York on behalf of purchasers of American Depositary Shares ("ADSs") of
The9, Ltd. ("The9" or the "Company") (NASDAQ: NCTY) between November 15,
2006 and July 15, 2009 (the "Class Period").
The complaint charges that The9 and certain of its directors and officers
violated federal securities laws. The complaint further alleges that
defendants failed to disclose the following: (i) it was becoming
increasingly less likely that The9 would be renewing the World of
Witchcraft ("WoW") contract with Blizzard; (ii) The9 had not even begun
formal negotiations with Blizzard regarding contract renewal; (iii) The9
and Blizzard had been at odds regarding The9's operation of WoW in China;
and (iv) the equity investment by EA Sports Online in The9 had made it less
likely that Blizzard would renew the WoW contract because Blizzard would
essentially be doing business with one of its greatest competitors.
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