IRVINE, CA / ACCESSWIRE / August 11, 2017 / Khang & Khang LLP (the ''Firm'') announces a securities class action lawsuit against Weibo Corporation (''Weibo'' or the ''Company'') (NASDAQ: WB). Investors who purchased or otherwise acquired Weibo shares from April 27, 2017 through June 22, 2017, inclusive (the ''Class Period''), are encouraged to contact the Firm before the August 28, 2017 lead plaintiff motion deadline.
If you purchased Weibo shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone at (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet, and until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the lawsuit, throughout the Class Period, Weibo made false and/or misleading statements, and/or failed to disclose: that the Company lacked a requisite internet audio/video program transmission license; that the Company was posting commentary programs with content in violation of Chinese government regulations on its site; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times. On June 22, 2017, Weibo announced that it received a notice from regulators in China that certain companies will have video and audio services suspended for lacking an internet audio/video program transmission license and for posting commentary that violates government regulations. When this information was announced, Weibo's stock price dropped materially, which harmed investors according to the Complaint.
If you want to learn more about this lawsuit, or if you have questions about this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for nearly two decades, by telephone at (949) 419-3834, or by e-mail at [email protected].
This press release may be considered Attorney Advertising in certain jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP