Judge Denies Motion To Dismiss In Securities Suit Against Chinese Company

Mealey's (March 17, 2016, 12:47 PM EDT) -- LOS ANGELES — Without providing further detail, a federal judge in California on March 15 denied a motion to dismiss filed by defendants in a securities class action lawsuit, ruling that the defendants’ arguments should be brought as a motion for summary judgment (Joseph Fragala v. 500.com Limited, et al., No. 15-1463, C.D. Calif.).

(Order available. Document #57-160321-103R.)

U.S. Judge John F. Walter of the Central District of California issued the ruling, holding only that “[t]he Court finds the issues raised by Defendants in their Motion...
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