Published: August 10, 2011
The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation Against WebMD Health Corporation
DALLAS - (BUSINESS WIRE) - Former United States Securities and United States Securities and
Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor, LLP announce that a federal class action lawsuit has been
filed against WebMD Health Corp. ("WebMD" or "WBMD" ) (NASDAQ: WBMD). The
firms are investigating additional legal claims against the officers and
Board of Directors of WebMD during the period of February 23, 2011
through July 15, 2011 (the "Class Period" ).
If you are an affected investor, and you want to learn more about the
lawsuit or join the action, contact Patrick Powers at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via
email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
It has been alleged that during the Class Period WebMD and certain of
its officers and directors made materially false and misleading
statements or failed to disclose material information related to WebMD's
business and operations in violation of the Securities Exchange Act of
1934. Specifically, it is alleged that WebMD and the other defendants
misrepresented and/or failed to disclose the following adverse facts:
(i) that WebMD was experiencing sponsorship cancellations due to
extended legal and regulatory reviews; (ii) that WebMD's customers,
including several consumer product companies, were delaying advertising
on the company's website as a result of smaller advertising budgets; and
(iii) as a result of the foregoing, defendants lacked a reasonable basis
for their positive statements about WebMD and its prospects. On July 18,
2011, WebMD announced its preliminary second quarter financial results
and lowered its financial guidance for 2011. In reaction to the
company's announcement, the price of WebMD stock fell $14.01 per share,
or 30%, to close at $32.48 per share, on extremely heavy trading volume.
The
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Powers
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The
Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
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