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The Securities and Exchange Commission brought an enforcement action against three former executives of a major media company, alleging that the executives improperly reported $1 billion in online advertising revenue
Shareholders of The9, Ltd., which operates online video games in China, filed a class action against the company and certain of its current and former officers for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, alleging that defendants fraudulently misrepresented facts relating to the likelihood of renewal of the company's most profitable exclusive license
