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condo2009
condo2009 Posts: 406 Arc User
edited April 2012 in Off-Topic Discussion
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Perfect World Co., Ltd. Stock fell 27% on Monday.
Post edited by condo2009 on
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Comments

  • Vitenka - Dreamweaver
    Vitenka - Dreamweaver Posts: 4,125 Arc User
    edited January 2012
    spam spam spam spam spam spam BAN.
  • BladedZero - Sanctuary
    BladedZero - Sanctuary Posts: 211 Arc User
    edited January 2012
    Vitenka - Dreamweaver wrote: »
    spam spam spam spam spam spam BAN.

    That's not spam, it's actually a serious topic.
  • Traz - Dreamweaver
    Traz - Dreamweaver Posts: 2,843 Arc User
    edited January 2012
    Vitenka - Dreamweaver wrote: »
    spam spam spam spam spam spam BAN.

    there stock did go down 26.58% today it's far from a joking matter.
    BladedZero - Sanctuary
    "Also I don't think actually playing through the game helps your skill either."

    -And we wonder why this game has gone to hell b:cute
  • SoulRequiem - Sanctuary
    SoulRequiem - Sanctuary Posts: 403 Arc User
    edited January 2012
    http://www.smartmoney.com/quote/PWRD/?story=charting
    http://www.smartmoney.com/news/pr/?story=PR-20120109-003089

    If this company goes bankrupt we all can say bye-bye to our toons and the tons of time and money we spent/wasted on em.

    *spreads panic all over*
    *starts downloading another game*
    WTB>More Fash
    Currently Want-to-buy list>>(W=White;B=Black;A=Any color)
    ((W. Steampunk Top \\ W. Aegan Dress \\ W. Road Warrior Vest and Shorts \\ W. Cougar Top \\ W. Barfighter Top \\B. Chipao \\ Trading B. Shinobi Set to White \\ B. Bowknot Top \\ W. Porcelian Dress \\ B. Leopard Boots \\W. Corsair Dress \\ B. Debutante Dress \\ W. Sunshine Blouse \\ W. Tiger Lily Dress \\ W. Stardust Dress \\ \\ Red Bikini Bottom \\ W. Crown Princess Dress))
  • BladedZero - Sanctuary
    BladedZero - Sanctuary Posts: 211 Arc User
    edited January 2012
    Wonder where all those whiners are going to go if the game goes under.
  • Viriilink - Lost City
    Viriilink - Lost City Posts: 265 Arc User
    edited January 2012
    Wonder if the cash shoppers would ever cash shop on a game again if this game goes under.
  • Aubree - Dreamweaver
    Aubree - Dreamweaver Posts: 1,868 Arc User
    edited January 2012
    Cash shoppers dont cash shop cause of the game. They cash shop for their pleasure and entertainment. Those standards can be very low considering there are people who cash shop for face book apps.
  • BladedZero - Sanctuary
    BladedZero - Sanctuary Posts: 211 Arc User
    edited January 2012
    Viriilink - Lost City wrote: »
    Wonder if the cash shoppers would ever cash shop on a game again if this game goes under.

    If you're referring to me I actually grinded herbs for my 5aps and +8 Striking Dragons. You can ask Sakubatou about the epic fist of heroism and TT90 polehammer I had back when I was doing fcc regularly to level. Maybe if people QQ'd less and actually played the game they'd get somewhere with their scrubby gears.
  • Hexalot - Dreamweaver
    Hexalot - Dreamweaver Posts: 871 Arc User
    edited January 2012
    Stock down 61% from a year ago.

    To be honest the real issue here isn't so much the current stock price since that's almost never enough by itself to drive a company into bankruptcy (as some of the financial "noobs" around here seem to think). The real question would be what's the position on its external debt as well as its current cash position (which would affect its ability to pay that outside debt as well as any possible fines the regulators stick them with). If either of those questions come back negative then the downward spiral of the company's stock price would indeed spell doom since PW would obviously have a terrible time trying to raise money on the stock markets.
  • SashaGray - Heavens Tear
    SashaGray - Heavens Tear Posts: 3,765 Arc User
    edited January 2012
    BladedZero - Sanctuary wrote: »
    If you're referring to me I actually grinded herbs for my 5aps and +8 Striking Dragons. You can ask Sakubatou about the epic fist of heroism and TT90 polehammer I had back when I was doing fcc regularly to level. Maybe if people QQ'd less and actually played the game they'd get somewhere with their scrubby gears.

    They werent refering to you, egomaniac.
    [SIGPIC][/SIGPIC]
  • Miugre - Heavens Tear
    Miugre - Heavens Tear Posts: 2,390 Arc User
    edited January 2012
    Hexalot - Dreamweaver wrote: »
    Stock down 61% from a year ago.

    To be honest the real issue here isn't so much the current stock price since that's almost never enough by itself to drive a company into bankruptcy (as some of the financial "noobs" around here seem to think). The real question would be what's the position on its external debt as well as its current cash position (which would affect its ability to pay that outside debt as well as any possible fines the regulators stick them with). If either of those questions come back negative then the downward spiral of the company's stock price would indeed spell doom since PW would obviously have a terrible time trying to raise money on the stock markets.
    As if the company weren't already in a downward spiral just from evidence within their games. They just closed two or three of them a couple months ago... and in this one, arguably their biggest moneymaker, they took to cannibalizing major parts of it (all kinds of gear farming systems, and reputation most of all) for short-term profit. There are problems with the game balance now that can never be made right again.

    But this is still... wow, just... wow. I especially love this part:
    Faruqi & Faruqi, LLP also encourages anyone with information regarding Perfect World conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
    Can you say "email flood?" >_>

    I'm at a loss for words, can't think of anything else to say at the moment...
    [SIGPIC][/SIGPIC]
    Yes, I'm still a stubborn holdout in favor of the old game. Haters gonna hate. ;]

    Other Active Characters:
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  • Sagek - Sanctuary
    Sagek - Sanctuary Posts: 1,156 Arc User
    edited January 2012
    condo2009 wrote: »
    Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Perfect World Co., Ltd. Stock fell 27% on Monday.

    "Faruqi & Faruqi, LLP Announces Investigation of Perfect World Co., Ltd. (PWRD)

    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).

    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."

    Now this is PROOF, wow thank you OP for mentioning this.

    But on a side note, the game could be saved if a Company swooped in and purchased the rights to it. "IF" this was actually enough to shut down PWRD. if the claims have a solid fondation and prove to be true.. ewwww thats not good news for us the player and us the investor.
  • FiveAps - Dreamweaver
    FiveAps - Dreamweaver Posts: 203 Arc User
    edited January 2012
    i'm never the person to wish bad things to another...
    but if this goes under and some are getting behind the bars, all I can say is : you absolutely deserve it. For the years of double crossing, upsetting players and taking advantage of unregulated online gambling inside games (with the packs sale) you absolutely deserve it. I won't feel any kind of remorse or sadness seeing articles about PWI/PWE personel behind bar. I has been way too long anyway.
    FiveAps - PvE char made from half as.s unbound gear sold by a wizard, doing 18x the damage and 10x the money the wizard was ever capable of. b:laugh . Only in PWI.
  • Tatuaje - Lost City
    Tatuaje - Lost City Posts: 2,780 Arc User
    edited January 2012
    This sounds huge. Of course it will get this forums really out of whack. I can just imagine what the major CSers are thinking right about now when they hear about this. b:shocked

    I visualized Chicken Little running around yelling the sky is falling when read about this PWI problem.
    tatuaje: grinding mobs and zhenning ???
    frankieraye:All right, I admit it, it's a bit retro. lol.
  • WarrenWolfy - Sanctuary
    WarrenWolfy - Sanctuary Posts: 1,686 Arc User
    edited January 2012
    This kinda explains why so many analysts over the past couple of years were trying to figure out why stock prices were so low, despite the company continuing to generate more and more profits.

    Investors just didn't trust PWRD, and it looks like they were right.
    [SIGPIC][/SIGPIC]
    PWI Merchanting Guides: warrenwolfy.wordpress.com
  • Sagek - Sanctuary
    Sagek - Sanctuary Posts: 1,156 Arc User
    edited January 2012
    Tatuaje - Lost City wrote: »
    This sounds huge. Of course it will get this forums really out of whack. I can just imagine what the major CSers are thinking right about now when they hear about this. b:shocked

    I visualized Chicken Little running around yelling the sky is falling when read about this PWI problem.

    Oh dude, no doubt that a majority of spenders will stop spending further hurting PWI's profit. The people who said "PWI is Dead" are going to feel validated (Which they should now that proof has been provided). But in the business world with companys like this claims are made and investigations happen. But dammmmmm this is pretty bad just from perpective alone.. As an investor this screams "RED LIGHT". if this story blows up and actually reachs all players in game PWI is indeed in trouble.
  • Acxfolife - Archosaur
    Acxfolife - Archosaur Posts: 12 Arc User
    edited January 2012
    Well this doesn't look good for PW.b:sad
    I've actually enjoyed playing this game, and would be a bit sad if it were to shut down.

    Best of luck.

    ~Acxfolife
  • kruze999
    kruze999 Posts: 112 Arc User
    edited January 2012
    Thanks god i and my friends left PWI few weeks ago to play a mmo frome MMOsite Reader's Choice Awards page witch frankie showed us. ironic ha...
    Anyways, i kinda felt this coming.
    [SIGPIC][/SIGPIC]
  • Sagek - Sanctuary
    Sagek - Sanctuary Posts: 1,156 Arc User
    edited January 2012
    PWRD needs to do some Damage Control ASAP, Chi Yufeng needs to release a Press statement addressing this matter as this is blowing up on gaming sites and if left unattended will get WAY out of hand. If there is a GM reading this, I would suggest bringing it to your higher ups attention and having them making some kind of statement to the Forum Community as A lot of us are Actual Investors and Want to know something.
  • Euthymius - Heavens Tear
    Euthymius - Heavens Tear Posts: 3,162 Arc User
    edited January 2012

    In before the return of Game is Dead sigs and such. b:laugh
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  • Miugre - Heavens Tear
    Miugre - Heavens Tear Posts: 2,390 Arc User
    edited January 2012
    Sagek - Sanctuary wrote: »
    PWRD needs to do some Damage Control ASAP, Chi Yufeng needs to release a Press statement addressing this matter as this is blowing up on gaming sites and if left unattended will get WAY out of hand. If there is a GM reading this, I would suggest bringing it to your higher ups attention and having them making some kind of statement to the Forum Community as A lot of us are Actual Investors and Want to know something.
    Oh trust me, it's not just stock investors who want a statement. I've only been demanding communication from those higher-ups for literally years. >_>

    Honestly, I have zero sympathy for execs who feel like they can get away with this ****. I just hope China's regulatory system is better than ours, because our system would just hand them a wad of cash and pat them on the back on their way out the door. >_<
    [SIGPIC][/SIGPIC]
    Yes, I'm still a stubborn holdout in favor of the old game. Haters gonna hate. ;]

    Other Active Characters:
    LigerKing (Barb), Girasole (BM), Shamsheer (Sin), ArborSoul (Mystic).
  • Renza - Raging Tide
    Renza - Raging Tide Posts: 1,939 Arc User
    edited January 2012
    Does anyone have a short/simple breakdown on what happened?
    [SIGPIC][/SIGPIC]
    "Kantorek: we hope to see the economy in PWI come back "down to earth" if you will."
    *One week later*
    "Frankieraye: Lucky Corals and Platinum Charms are going to be in the Boutique indefinitely."
    *few months later, PWI puts rank8/9 into the CS insanely cheap, raising gold 1mill+*
  • VoItaire - Harshlands
    VoItaire - Harshlands Posts: 1,033 Arc User
    edited January 2012
    sashagray - Heavens Tear wrote: »
    they Werent Refering To You, Egomaniac.

    q.f.t
    [SIGPIC][/SIGPIC]
  • Sarrafeline - Sanctuary
    Sarrafeline - Sanctuary Posts: 4,661 Arc User
    edited January 2012
    Renza - Raging Tide wrote: »
    Does anyone have a short/simple breakdown on what happened?

    Ummmm...

    Not really, might have to wait for final reports to be published I think to find out exactly what they 'did'. I'll dig when I get home though to see if it's public yet. XD

    I'm guessing though, that they understated their earnings in order to drive stock prices down? I'm not really sure.

    Also, seeing how PWE is an independent company of Wanmei, we have to ask, is PWE a part of the investigation, or is just Wanmei under the gun here? My assumption is that Wanmei is PWRD, and PWE is separate, but I could be wrong.
    101 Sage Sin*/Archer
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  • ewhitt1977
    ewhitt1977 Posts: 1 Arc User
    edited January 2012
    http://www.benzinga.com/trading-ideas/long-ideas/12/01/2249432/not-so-perfect-perfect-world-slammed-on-investigation-news

    We can all blame it on their greed and stupidity... this game has ruined my views of F2P. I always thought it would be the gambling packs that would get em shut down like what happened to pokerstars. Owell, can't wait for a certain B2P game coming out soon.
  • Angel_Spawn - Sanctuary
    Angel_Spawn - Sanctuary Posts: 3,034 Arc User
    edited January 2012
    Would be cool if PWI gets shut down, will help a lot of people who hate this game but simply can`t quit b:surrender
    [SIGPIC]http://pwi-forum.perfectworld.com/image.php?type=sigpic&userid=14516063001&dateline=1364756666[/SIGPIC] Ty Silvy :)
  • Sagek - Sanctuary
    Sagek - Sanctuary Posts: 1,156 Arc User
    edited January 2012
    ewhitt1977 wrote: »
    http://www.benzinga.com/trading-ideas/long-ideas/12/01/2249432/not-so-perfect-perfect-world-slammed-on-investigation-news

    We can all blame it on their greed and stupidity... this game has ruined my views of F2P. I always thought it would be the gambling packs that would get em shut down like what happened to pokerstars. Owell, can't wait for a certain B2P game coming out soon.

    Awesome, thank you for that.

    "Chi Yufeng was deliberately concealing foreign stock exchange, tax evasion and large personal income tax nearly 100 million yuan or over $15.7 million based on current forex rates. Making matters more interesting is the Web site's assertion Yufeng used the help of Chinese organized crime and illegal underground banks for nefarious currency conversions."

    WOW....

    Ok so this does not necessarily mean the end of PWRD it just mean this Chi Yufeng might be spending a bit of his life in Jail. Altho it states the Board of Directors was controlled by Yufeng, if he is thrown in Jail they will just hire another CEO to replace him. PWRD's name is def going to be drug through the mud tho. Man.. this is Awesome stuff.
  • RedsRose - Lost City
    RedsRose - Lost City Posts: 12,354 Arc User
    edited January 2012
    Renza - Raging Tide wrote: »
    Does anyone have a short/simple breakdown on what happened?

    Here is what is coming out of some places:
    U.S. securities regulators and the judiciary is investigating the main content



    A, Chi Yufeng, self-funded nearly 20 million yuan, registered in the name of others can be manipulated to borrow the "Beijing Network Technology Co., Ltd. Chi Chu" (178.com);

    1) July 10, 2008, 29, Chi Yufeng, by personal bank account (Merchants Bank, account number: 4100620100223136) into "Chi Chu network," chairman and managing director Zhang Yunfan personal bank account (Merchants Bank, account number : 6226090103453391) registered capital of 100 million and start-up capital 50 million; Registered Address: Chaoyang District, Anhui Zhong Times in 103 F, Block A, 0509 Rock Room.

    2) August 4, 2009, Chi Yufeng, the 9 million yuan Zhang Yunfan by personal bank account into the personal bank account, the "Chi Chu network" registered capital from 100 million to $ 10 million.

    3) February 8, 2010 Chi Yufeng, the individual investor, the acquisition of personal name for Zhang Yunfan the NGA companies - 2.96 million yuan;

    4) July 2008-February 2010, the Chi Yufeng, many individual investors, to cover the company's start-up capital, working capital and Zhang Yunfan severance compensation and bonuses, nearly 500 million



    Second, Chi Yufeng not been publicly disclosed and the "Chi Chu network" relationship between the interests of

    Chi Yufeng, and "Perfect World" has never been to the U.S. SEC, the board of directors of listed companies and public disclosure of all the shareholders and the "wisdom beads network" relationship, and deliberately concealed "Chi Chu network" rights relationship.



    Third, the "wisdom beads Network" and "Perfect World" related party transactions between the

    Chi Yufeng, the use of his position several times higher than the market price, the "perfect world" network information service delivery and "Chi Chu network", the amount each year tens of millions of dollars, to the detriment of the "perfect world" interests of shareholders way to make the "wisdom beads Network" and the Chi Yufeng, I profit.



    Fourth, Chi Yufeng, the use of his position, the acquisition premium "Chi Chu network" 20% of the equity

    June 1, 2010, without the approval of the Board of Directors resolution, Chi Yufeng, the use of his position, signed it to 27 million yuan buying the "wisdom beads Network" 20% of the shares. And completion of the transaction more than a month before and Marsh (Marsh, MA Shi (Beijing) Risk Management Consulting Co., Ltd.) signed a trust agreement, to "accounting consultation and evaluation report" substitute "the company's assets assessment report", nor to all shareholders and disclosure of relevant regulatory authorities for more information.



    Fifth, Chi Yufeng, steering control, "Perfect World" Board

    Board members have a perfect world, all controlled by the manipulation of Chi Yufeng, it is not an independent board of directors.

    You can see more here...

    The above link from here....

    Etc...etc...there are more then a few articles out there.
    [SIGPIC][/SIGPIC]
    RoidAbuse is awesome, only he would sell his sperm for gear!!

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  • Phedre_Rain - Sanctuary
    Phedre_Rain - Sanctuary Posts: 9 Arc User
    edited January 2012
    Viriilink - Lost City wrote: »
    Wonder if the cash shoppers would ever cash shop on a game again if this game goes under.

    QQ I sure as well won't. This is the only game I have ever CS'd in. I don't even bother with any of PW's other titles. b:sad
  • Devoted - Lost City
    Devoted - Lost City Posts: 3,634 Arc User
    edited January 2012
    No sympathy on my end.
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