August 23rd, 2017

The9: Shareholder Claims Groudless

In response to the news that The9 shareholders are to sue the company for allegedly misleading them, The9’s CEO has said he believes the claims lack legal basis.As we reported last week, shareholders in The9, former operator of World of Warcraft in China, are suing the company after they were apparently not informed of the impending loss of the WoW contract. They claim that The9 made numerous inaccurately positive statements about the company’s financial situation, although it was becoming increasingly obvious that the contract with Blizzard was coming to an end, and would not be renewed.According to the Oriental Morning Post via JLM, Zhu Jun, The9’s Chairman and CEO said he thinks the claims made by the shareholders are “groundless” and “lack legal basis”.Read more about the legal case in our earlier article.