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Giant Interactive Statement
Nov 27, 2007 (08:11 AM EST)
SHANGHAI, China, Nov. 27 /Xinhua-PRNewswire-FirstCall/ -- Giant Interactive Group Inc. , announced today that the Company has been named in a securities class action in the United States District Court for the Southern District of New York. The lawsuit alleges claims for violations under Section 11 and Section 12 of the Securities Act of 1933. The Company denies the allegations of the complaint and intends to defend itself vigorously in the litigation.
About Giant Interactive Group Inc.
Giant Interactive Group Inc. http://www.giantig.com is one of China's leading online game developers and operators in terms of revenues, focusing on massively multiplayer online role playing games. Giant's game, ZT Online, was voted the most popular online game in China in 2006 according to International Data Corporation. Giant has three additional online games that it intends to commercially launch, including ZT Online PTP, Giant Online and King of Kings III. Giant has built a nationwide distribution network to sell prepaid game cards and game points required to play its games, which as of September 30, 2007 consisted of over 200 distributors, and reached over 116,500 retail outlets, including internet cafes, software stores, supermarkets, bookstores, newspaper stands and convenience stores located throughout China. For more information, please visit Giant Interactive Group on the web at .
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 relating to the Company's intent to vigorously defend its securities class action lawsuit and its beliefs concerning the lawsuit. These forward-looking statements involve a number of risks and uncertainties, including the Company's ability to obtain insurance coverage or otherwise pay defense costs in any pending litigation, and other risk factors as outlined under ''Risk Factors'' beginning on page 12 of our prospectus filed with the Securities and Exchange Commission on November 1, 2007. We undertake no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release. Such information speaks only as of the date of this release.
For more information, please contact: Investor Contact: Eric He, CFO Giant Interactive Group Inc. Tel: +86-21-6451-5001 Investor Relations (US): Mahmoud Siddig Taylor Rafferty Tel: +1-212-889-4350 Investor Relations (HK): Ruby Yim Taylor Rafferty Tel: +852-3196-3712 Media Contact: John Dooley Taylor Rafferty Tel: +1-212-889-4350
CONTACT: Investor Contact: Eric He, CFO of Giant Interactive Group Inc.,+86-21-6451-5001; or Investor Relations (US): Mahmoud Siddig of TaylorRafferty, +1-212-889-4350, or Investor Relations (HK): Ruby Yim of TaylorRafferty, +852-3196-3712, Media Contact: John Dooley of Taylor Rafferty,+1-212-889-4350, all for Giant Interactive Group Inc.
Web site: http://www.giantig.com/