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id: 273, Created by Stan Vick Chase, Scout
At 100 participants, legal proceedings can be initiated!
19 February 2020Class period Start
23 April 2020Class period End
23 January 2023Claim deadline
In re Changyou.com Limited Sec. litigation.
"Changyou is an online game company primarily operating in China. It had two classes of stock, with Class A shares entitled to one vote per share, and Class B shares entitled to ten votes per share. In 2009, Changyou conducted a public offering of ADSs in the United States and each ADS represented two class A shares. Sohu.com Limited (“Sohu”) was Changyou’s controlling shareholder throughout the Class Period. In January 2020, Changyou, Sohu Game (a subsidiary of Sohu), and Changyou Merger Co. Limited, agreed to execute a going private transaction (the “Merger”). The transaction was structured as a “short form” merger, meaning that it did not require a vote of public shareholders. Through the transaction, Sohu would essentially buy each outstanding ADS for $10.80, resulting in Sohu owning the
Company. Lead Plaintiff alleges, among other things, that the Rule 13e-3 Transaction Statement filed with the U.S. Securities and Exchange Commission (“SEC”) and sent to ADS holders in connection with the transaction contained allegedly false and misleading statements regarding the unavailability of “dissenters’” or “appraisal” rights, and other potential rights, for dissenting shareholders in short-form mergers under the Cayman Islands Company Law and/or omitted material information rendering Defendants’ statements false and misleading. Lead Plaintiff alleges that during the Class Period, Defendants’ alleged wrongdoing artificially deflated the prices of Changyou ADSs, allegedly mislead sellers of Changyou ADSs concerning their rights and, as a result of their sales (including tendering) of Changyou ADSs, members of the class allegedly suffered damages under the federal securities laws."
Depository Securities (ADS, ADR, GDR)
ODS Capital LLC
Labaton Sucharow LLP
Southern District of New York
Hon. Kiyo A. Matsumoto
Strategic Claims Services
Court hearing date
06 January 2023
All holders on 23.04.2020
+$1,075,000Total Settlement Amount