Shanda Games Limited ("Shanda") is an on-line game developer, operator and publisher. Shanda is a Cayman Islands corporation with its principle executive offices located in Shanghai, People’s Republic of China.
On April 3, 2015, Shanda announced that it had entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Capitalhold, and Capitalcorp Limited, a corporation and wholly owned subsidiary of Capitalhold (“Capitalcorp”). Pursuant to the terms of the Merger Agreement, Capitalhold acquired Shanda through the merger of Capitalcorp with and into Shanda, with Shanda surviving as a wholly owned subsidiary of Capitalhold (the “Merger”).
The Complaint alleges that between May 5, 2015 and October 13, 2015, in order to convince Shanda stockholders to vote in favor of the Merger, Defendants authorized the filing of a materially false and misleading Proxy Statement on a Schedule 14A (the “Proxy Statement”) with the SEC, in violation of Sections 10(b), 14(a) and 20(a) of the Exchange Act.
On June 1, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel.