Vampire Esports Soar to PUBG MOBILE World Invitational Triumph at Riyadh's Gamers8

Vampire Esports are crowned PUBG MOBILE World Invitational (PMWI) champions at Gamers8 in Riyadh. (Gamers8)
Vampire Esports are crowned PUBG MOBILE World Invitational (PMWI) champions at Gamers8 in Riyadh. (Gamers8)
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Vampire Esports Soar to PUBG MOBILE World Invitational Triumph at Riyadh's Gamers8

Vampire Esports are crowned PUBG MOBILE World Invitational (PMWI) champions at Gamers8 in Riyadh. (Gamers8)
Vampire Esports are crowned PUBG MOBILE World Invitational (PMWI) champions at Gamers8 in Riyadh. (Gamers8)

Gamers8, the biggest esports and gaming event worldwide, saw Vampire Esports crowned PUBG MOBILE World Invitational (PMWI) champions at Boulevard Riyadh City on Saturday after an epic tournament victory, reported the Saudi Press Agency.

The team from Thailand claimed $500,000 of the total $2 million prize pool after scoring 220 points. That points total was enough to edge out homegrown heroes Team Falcons from Saudi Arabia, who scored 197 points, into second place.

Team Falcons’ exploits earned them $300,000, while the 180 points scored by Stalwart Esports, from Mongolia, claimed third spot and $160,000. The MVP award, and with it $10,000, also went to Stalwart Esports – with star performer Action leading the individual rankings from day one of the tournament on Thursday right up until Saturday’s conclusion.

Vampire Esports Leader Rvenclaw said: “This is the greatest achievement of our lives. It was our team goal to come here and win, and we are so delighted to have done so. We really encouraged each other to win.”

Rvenclaw added: “The Esports Arena at Boulevard Riyadh City is a great venue and the fans created a great atmosphere. It was a great honor to be here in Riyadh and we have really enjoyed our time in Saudi Arabia – it is a beautiful country. We have really enjoyed the culture here; the buildings are beautiful, the food has been awesome, and the people have been very welcoming.”

Asked if Team Vampires had a message for the young gamers of Saudi Arabia who wish to follow in their footsteps, Rvenclaw replied: “If you want to be a professional esports player, you must have the self-discipline to be able to study, practice and do your homework. When you see the best players in the world right now, they all have self-discipline and keep on improving. This is what makes you win and makes money for you and your family!”

The second annual PMWI tournament marks the fifth and final phase of the historic Professional Esports calendar at Gamers8, which is being organized by the Saudi Esports Federation.

Split into two parts, the main tournament welcomed 17 regional champions and one homegrown representative. The Afterparty Showdown – the week two tournament taking place from August 18-20 – will see teams competing for the remaining $1 million on offer.

The Afterparty Showdown line-up will comprise the top five teams from week one – the aforementioned Vampire Esports, Team Falcons, and Stalwart Esports, as well as Nigma Galaxy, who hail from the UAE and India, and DWG Kia from South Korea – alongside six teams chosen from different regions, and one given a special invitation to compete.

Faisal bin Hamran, Head of Esports at the Saudi Esports Federation, said: “The PUBG MOBILE World Invitational at Gamers8 witnessed high enthusiasm from the participating teams, the fans present at the Esports Arena at Boulevard Riyadh City, and the tournament followers on Gamers8 channels being broadcast live in eight languages.

“This is our fifth tournament of the Gamers8 season, and the PMWI only adds to the glittering roster of elite action that we have been delighted – and privileged – to have witnessed this summer. I congratulate all the participating teams, especially those who qualified for the Afterparty Showdown that will be held next week.”

Organized by the Saudi Esports Federation, Gamers8, the biggest esports and gaming event worldwide, runs daily throughout this summer until September 8 at a purpose-built venue at Boulevard Riyadh City. Elite esports tournaments are featuring alongside a series of big-name concerts, festivals, shows, and fun-filled activities for all ages.



US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
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US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)

The US Supreme Court sidestepped on Friday a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing Meta's Facebook of misleading investors about the misuse of the social media platform's user data.
The justices, who heard arguments in the case on Nov. 6, dismissed Facebook's appeal of a lower court's ruling that had allowed a 2018 class action led by Amalgamated Bank to proceed. The Supreme Court opted not resolve the underlying legal dispute, determining that the case should not have been taken up. Its action leaves the lower court's decision in place, Reuters reported. 
The court's dismissal came in a one-line order that provided no explanation. The Facebook dispute was one of two cases to come before the Supreme Court this month involving the right of private litigants to hold companies to account for alleged securities fraud. The other one, involving the artificial intelligence chipmaker Nvidia, was argued on Nov. 13. The Supreme Court has not ruled yet in the Nvidia case.
The plaintiffs in the Facebook case claimed the company unlawfully withheld information from investors about a 2015 data breach involving British political consulting firm Cambridge Analytica that affected more than 30 million Facebook users. They accused Facebook of misleading investors in violation of the Securities Exchange Act, a 1934 federal law that requires publicly traded companies to disclose their business risks. Facebook's stock fell following 2018 media reports that Cambridge Analytica had used improperly harvested Facebook user data in connection with Donald Trump's successful US presidential campaign in 2016. The investors have sought unspecified monetary damages in part to recoup the lost value of the Facebook stock they held.
At issue was whether Facebook broke the law when it failed to detail the prior data breach in subsequent business-risk disclosures, and instead portrayed the risk of such incidents as purely hypothetical.
Facebook argued that it was not required to reveal that its warned-of risk had already materialized because "a reasonable investor" would understand risk disclosures to be forward-looking statements. President Joe Biden's administration supported the shareholders in the case.
US District Judge Edward Davila dismissed the lawsuit but the San Francisco-based 9th US Circuit Court of Appeals revived it.
The Cambridge Analytica data breach prompted US government investigations into Facebook's privacy practices, various lawsuits and a US congressional hearing. The US Securities and Exchange Commission in 2019 brought an enforcement action against Facebook over the matter, which the company settled for $100 million. Facebook paid a separate $5 billion penalty to the US Federal Trade Commission over the issue.
The Supreme Court in prior rulings has limited the authority of the Securities and Exchange Commission, the federal agency that polices securities fraud.