Deadline on February 8th coming up in Lawsuit for Investors who SOLD shares of Changyou.com Limited (NYSE: CYOU)

A deadline is coming up on February 8, 2021 in the lawsuit filed for certain investors of Changyou.com Limited (NYSE: CYOU) over alleged securities laws violations by Changyou.com Limited (NYSE: CYOU).

Investors who SOLD shares of Changyou.com Limited (NYSE: CYOU) between February 14, 2020 and April 23, 2020 have certain options and there are strict and short deadlines running. Deadline: February 8, 2021. NYSE: CYOU stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff claims that the Transaction Statement contained false and misleading information regarding the existence of dissenters’ rights (also known as appraisal rights) pursuant to Cayman Islands law.
For instance, The Transaction Statement stated in no uncertain terms:
No Dissenters’ or Appraisal Rights
As the Merger is a short-form merger under section 233(7) of the Cayman Islands Companies Law, and the vote of holders of the Company’s Shares (including ADSs) is not required to complete the Merger, the Unaffiliated Security Holders will not be able to exercise dissenters’ rights such as are afforded to shareholders of Cayman Islands companies pursuant to Section 238 of the Cayman Islands Companies Law with respect to mergers for which a shareholder vote is required. A copy of Section 238 of the Cayman Islands Companies Law is attached as Exhibit (f)(2) to this Transaction Statement for the information of the Unaffiliated Security Holders.
The plaintiff alleges that the Transaction Statement is false and misleading because it provided no support for such conclusion and it is at odds with the text of the relevant Cayman Islands statute regarding appraisal rights and that the Transaction Statement failed to disclose other rights that may be available to Changyou shareholders under Cayman Islands law, in clear violation of the federal securities laws.

Those who sold shares of Changyou.com Limited (NYSE: CYOU) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.