Case Page

 

Case Status:    DISMISSED    
On or around 11/04/2014 (Court's order of dismissal)

Filing Date: March 27, 2014

According to the Complaint, this is a shareholder class action on behalf of the holders of the common stock of
Giant Interactive Group Inc. seeking, among other things, to enjoin the shareholder vote relating to the acquisition of the publicly owned shares of Giant common stock by Giant Investment Limited and its wholly owned subsidiary Giant Merger Limited.

The Complaint alleges that the Board has breached its duties to Giant's public ADS holders by not performing a detailed, full, and transparent process and by omitting material information from the solicitation documents that renders other information contained in the Preliminary Proxy materially misleading in violation of Section 14 of the Exchange Act. Moreover, the Preliminary Proxy is in violation of Section 13e-3 because it omitted information concerning the fairness of the merger transaction and the fairness opinions of the respective financial advisors. Specifically, the Preliminary Proxy contains a number of material omissions concerning, among other things:
(a) the background of the transaction; (b) material information regarding key management projections; (c) the financial analysis of Giant's financial advisor, (d) the financial analyses of Giant's additional financial advisors, and (e) potential conflicts of interest of the respective financial advisors.

On May 20, 2014, the Court issued an Order of consolidation, appointed lead plaintiff and the law firms of Levi & Korsinsky, LLP, Brodsky & Smith, LLC, and Milberg LLP were appointed plaintiffs' Interim Co-Lead Counsel. All papers filed in connection with the Consolidated Action shall be filed under In re Giant Interactive Shareholder Litigation, No. 14-CV-2177. Lead Plaintiffs filed a consolidated complaint on June 19.

On August 8, 2014, the Court issued an Order granting the motion to voluntarily dismiss this case.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: GA
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 14-CV-02177
JUDGE:
DATE FILED: 03/27/2014
CLASS PERIOD START: 03/16/2014
CLASS PERIOD END: 03/27/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 14-CV-02177
JUDGE:
DATE FILED: 06/19/2014
CLASS PERIOD START: 03/17/2014
CLASS PERIOD END: 03/27/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brodsky & Smith, LLC (New York)
    240 Mineola Boulevard, Brodsky & Smith, LLC (New York), NY 11501
    516.741.4977 516.741.0626 · clients@brodsky-smith.com
  2. Brower Piven (New York)
    488 Madison Avenue. Eighth Floor, Brower Piven (New York), NY 10022
    212.501.9000 212.501.0300 · info@browerpiven.com
  3. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
  4. Milberg LLP (New York)
    One Pennsylvania Plaza, 49th Floor, Milberg LLP (New York), NY 10119
    1.877.692.1965 · ContactUs@milberg.com
No Document Title Filing Date