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INVESTOR ALERT: The Schall Law Firm Announces the Filing of a Securities Class Action Lawsuit Against Yelp, Inc. and Reminds Investors With Losses in Excess of $100,000 to Contact the Firm
Wednesday, February 21, 2018 5:35 PM
LOS ANGELES, CA / ACCESSWIRE / February 21 , 2018 / The Schall Law Firm
, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Yelp, Inc. ("Yelp" or the "Company") (NYSE: YELP
) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between February 10, 2017, and May 9, 2017, inclusive (the "Class Period"), are encouraged to contact the firm before March 19, 2018, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Brian Schall or Sherin Mahdavian of The Schall Law Firm, 1880 Century Park East Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at schallfirm.com or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the lawsuit, the Company issued materially false and/or misleading statements and/or failed to disclose: (1) Yelp's transition from a Cost-Per-Thousand-Impressions to a Cost-Per-Click model in FY2016 created a distinct cohort of local advertisers that would reach the end of their contracts during the first part of FY2017; (2) new customers that signed on with Yelp under the Cost-Per-Click pricing model had lower retention rates because the customers did not effectively compete with Yelp's more established customers; and (3) as a result of the lower retention rates, Yelp was not on track to achieve its financial guidance or results during the Class Period. When the truth was revealed to the investing public, shares of the Company fell sharply.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
SOURCE: The Schall Law Firm