STEVENSON, Md., April 7, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of all common stockholders of Giant Interactive Group Inc. ("Giant" or the "Company") (NYSE:GA) asserting claims that the members of the Company's board of directors have breached fiduciary duties they owe to Giant shareholders in connection with Giant's recent announcement that it has entered into a definitive merger agreement to be acquired by Giant Investment Limited and Giant Merger Limited (collectively, "Buyout Group"). According to the complaint, under the terms of the proposed transaction, Giant shareholders will receive $12.00 for each share of Giant stock they own, and upon completion of the transaction, Giant will be a wholly-owned subsidiary, which will have effectively transformed the Company from a public entity to a privately-held entity.
The claims asserted in the lawsuit concern whether the Company's Board of Directors breached their fiduciary duties to stockholders by failing to maximize shareholder value before agreeing to enter into this transaction, and whether the Buyout Group is underpaying for Giant shares.
If you currently own common stock of Giant and would like to learn more about this lawsuit and your ability to participate as a plaintiff, without cost or obligation to you, click here: http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.