Published: July 01, 2011
Hagens Berman Reminds Investors Who Purchased Yahoo Securities Between April 19, 2011 and May 13, 2011 of Deadline
BERKELEY, Calif. - (BUSINESS WIRE) - Hagens Berman, a nationwide class-action law firm, today reminded
investors of an August 8, 2011 deadline in a case against Yahoo (Nasdaq:
YHOO) arising from Yahoo's failure, by April 19, 2011, to reveal 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. As a result of this failure,
those who traded in Yahoo's securities between the dates of April 19,
2011 and May 13, 2011 (the "class period" ), may have been harmed by an
artificially high stock price.
Investors who purchased or sold securities of Yahoo between the dates of
April 19, 2011 and May 13, 2011 (the "class period" ), and have been
damaged, are encouraged to contact the Hagens Berman legal team via
email at Yahoo@hbsslaw.com. Those
wishing to join the case as lead plaintiff must move the court by August
8, 2011.
Partner Reed R. Kathrein is leading the firm's investigation from its
San Francisco office and can be reached by phone at 510-725-3000.
Additional information is also available at www.hbsslaw.com/yahoo.
The lawsuit was filed in the United States District Court for the
Northern District of California. It is based upon Yahoo's admission that
it was informed by March 31, 2011 of the transfer of Alipay. Yet, Yahoo
did not mention the transfer in its April 19, 2011, quarterly earnings
announcement and did not inform its investors of the change until on or
about May 13, 2011.
Hagens Berman is investigating exactly what Yahoo's management knew on
March 31st and why it failed to disclose the transfer when it
made positive statements about its business.
About Investor Fraud Practice
Hagens Berman is a nationally recognized investor-rights law firm that
provides highly acclaimed fraud recovery and asset protection services
to individual and institutional investors. For an in-depth discussion of
securities fraud, corporate governance and investor rights, please visit
our Investor
Fraud website or our Meaningful
Disclosure blog.
About Hagens Berman
Seattle-based Hagens Berman Sobol Shapiro LLP is one of the top
class-action law firms in the nation, with offices in Boston, Chicago,
Colorado Springs, Los Angeles, Minneapolis, New York, Phoenix, San
Francisco and Washington, D.C. Founded in 1993, we represent plaintiffs
in class actions and multi-state, large-scale litigation that seek to
protect the rights of investors, consumers, workers and whistleblowers.
More information about the firm is available at www.hbsslaw.com.
Firmani + Associates Inc.
Mark Firmani, 206-443-9357
mark@firmani.com
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