Gravity ( GRVY) called an extraordinary shareholder meeting Dec. 26 at the request of two hedge funds.

The Seoul-based online game publisher said the funds, Ramius Capital and Moon Capital, called for CEO Il Young Ryu and operating chief Seung Taik Baik to be thrown off the board.

Gravity says current management is executing on its clear strategy to create value for its shareholders.

If you liked this article you might like

Spain to Play Netherlands for World Cup

Spain to Play Netherlands for World Cup

Wal-Mart: Analysts' Upgrades, Downgrades

Wal-Mart: Analysts' Upgrades, Downgrades

Netherlands Advances to World Cup Final

Netherlands Advances to World Cup Final

Apple: Analysts' Upgrades, Downgrades

Apple: Analysts' Upgrades, Downgrades

World Markets Mostly Lower Monday

World Markets Mostly Lower Monday