Changyou.Com is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: 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 incurred a loss on SOHU stocks purchased between February 14, 2020 and April 23, 2020, this lawsuit is on your behalf. The lawsuit was filed in the the United States District Court for the Eastern District of New York, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until February 8, 2021 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
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