The Klein Law Firm announces that a class action complaint has been filed on behalf of all persons and entities that either held publicly-traded Changyou.com Limited (NYSE: CYOU) (“Changyou”) American Depository Shares on April 23, 2020 or sold such shares during the period between February 14, 2020 and April 23, 2020.. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Changyou.Com lawsuit alleges that 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.
Shareholders have until February 8, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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