SHANGHAI, China, Nov. 21 /Xinhua-PRNewswire/ -- 51job, Inc. (Nasdaq:
JOBS), a leading provider of integrated human resource services in China,
announced today that the consolidated securities class action complaint
against the Company and certain of its directors and senior executive
officers has been dismissed.
(Logo: http://www.prnasia.com/sa/200611091940.jpg )
As previously disclosed in the Company’s SEC filings, beginning in
January 2005, several complaints were filed in the United States District
Court for the Southern District of New York against the Company and certain
of its directors and senior executive officers. The complaints sought
unspecified damages on alleged violations of federal securities laws during
the period from November 4, 2004 to January 14, 2005. The Court subsequently
consolidated the complaints and appointed a lead plaintiff.
On September 28, 2006, the Court issued an order granting the
defendants’ motion to dismiss the consolidated complaint, with leave to
amend on or before October 30, 2006. No amended complaint was filed. On
November 17, 2006, the Court entered an Order dismissing the action with
prejudice.
The Company and its directors and officers were represented in the matter
by the law firm of Wilson Sonsini Goodrich & Rosati.
About 51job
51job, Inc. (Nasdaq: JOBS) is a leading provider of integrated human
resource services in China with a strong focus on recruitment related
services. Offering a broad array of products and services, 51job connects
millions of job seekers with employment opportunities and streamlines the
recruitment process and human resource administration for tens of thousands
of companies in China. Through print advertisements in 51job Weekly and
online recruitment services at http://www.51job.com , both domestic Chinese
employers and multinational companies alike are able to attract, identify and
recruit new employees. 51job also provides executive search services and a
number of other value-added human resource services, including training,
business process outsourcing and salary surveys. 51job’s nationwide office
network in China spans 25 cities operating 23 local editions of 51job Weekly
and Hong Kong.
