Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Perfect World Co., Ltd ("Perfect World" or the "Company") (Nasdaq: PWRD).
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On September 15, 2011, Perfect World announced that it had cut its quarterly outlook by $8.5 million. On this unexpected news, Company shares plunged by 18 percent on extremely heavy trading volume. On November 22, Perfect World shares dropped 14.4 percent after the Company released its quarterly earnings report. Perfect World only reached the lower end of its revised guidance, and was significantly outperformed by industry peers.
Then, on January 9, 2012, Perfect World shares plunged by 26.58 percent after the popular Chinese internet forum Tianya Club published a story alleging that the Company is under investigation by Chinese and U.S. regulators. The investigation is said to focus on related party transactions made by Company founder and CEO Chi Yufeng. Perfect World closed on January 9, 2012 at $8.81 compared to $22.64 a year prior.
Take Action
If you purchased Perfect World securities and would like to discuss your legal rights, visit www.faruqilaw.com/PWRD. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Perfect World conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Contacts:
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New
York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Francis
McConville, Esq.
fmcconville@faruqilaw.com
Telephone:
(877) 247-4292 or (212) 983-9330
