>Yahoo! Investigation
Date Filed: June 7, 2011
Lead Plaintiff Deadline: August 8, 2011
Hagens Berman today is investigating claims against Yahoo that the company made false and misleading statements to investors. At the same time a class-action lawsuit has been filed against Yahoo alleging violation of the Securities Exchange Act of 1934. Investors who seek to be a lead plaintiff are required to file a motion before August 8, 2011.
The complaint, filed in the United States District Court for the Northern District of California is based upon Yahoo’s admission that it was informed by March 31, 2011 that Alibaba, a company in which Yahoo had purchased a 43 percent share in 2005, had shifted its e-commerce system, Alipay, to another private company without Yahoo’s authorization. Yet, Yahoo did not mention the transfer in its April 19, 2011 quarterly earnings announcement. Yahoo did not inform its investors of the change until on or about May 13, 2011.
As a result of the alleged misleading statements to investors, Yahoo common stock’s price may have been artificially inflated. Investors who purchased stock between April 19, 2011 and May 13, 2011 (the “class period”) are encouraged to contact the Hagens Berman legal team by clicking here.
In order to be considered a lead plaintiff, investors must move the court by August 8, 2011.
Lead Plaintiff Deadline: August 8, 2011
Hagens Berman today is investigating claims against Yahoo that the company made false and misleading statements to investors. At the same time a class-action lawsuit has been filed against Yahoo alleging violation of the Securities Exchange Act of 1934. Investors who seek to be a lead plaintiff are required to file a motion before August 8, 2011.
The complaint, filed in the United States District Court for the Northern District of California is based upon Yahoo’s admission that it was informed by March 31, 2011 that Alibaba, a company in which Yahoo had purchased a 43 percent share in 2005, had shifted its e-commerce system, Alipay, to another private company without Yahoo’s authorization. Yet, Yahoo did not mention the transfer in its April 19, 2011 quarterly earnings announcement. Yahoo did not inform its investors of the change until on or about May 13, 2011.
As a result of the alleged misleading statements to investors, Yahoo common stock’s price may have been artificially inflated. Investors who purchased stock between April 19, 2011 and May 13, 2011 (the “class period”) are encouraged to contact the Hagens Berman legal team by clicking here.
In order to be considered a lead plaintiff, investors must move the court by August 8, 2011.
Key Attorneys
Reed R. Kathrein
Mr. Kathrein is the managing partner of the Berkeley office of Hagens Berman. After eleven years defending ... link >>
Mr. Kathrein is the managing partner of the Berkeley office of Hagens Berman. After eleven years defending ... link >>
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