NEW YORK--(BUSINESS WIRE)--The law firm of Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating potential federal securities claims against Expedia, Inc. (“Expedia” or the “Company”) (Nasdaq: EXPE), and certain of its officers and directors in connection with the issuance of allegedly false and misleading statements regarding the Company’s business and prospects, particularly with respect to the impact that its 2011 split into two publicly-traded companies and resultant spin-off of TripAdvisor would have on its revenues and profits.
On July 25, 2013, after the close of trading, Expedia issued a press release announcing its second quarter 2013 financial results for the quarter ended June 30, 2013. The Company’s second-quarter 2013 profit fell to $71.5 million from $105.2 million the prior year. Overall, bookings rose only 13%, well below the 19% surge the Company posted during second-quarter 2012. The Company also lowered its guidance for its 2013 adjusted earnings, predicting growth in the mid to high single digits.
On this news, on July 26, 2013, the price of Expedia common stock fell 27%, representing a decrease in the Company’s market capitalization.
Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in United States federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.
Please contact us no later than October 28, 2013 if you own Expedia common stock and wish to discuss this matter with us, or have any questions concerning your rights and interests:
Gregory M. Nespole
Wolf Haldenstein Adler Freeman & Herz LLP
270 Madison Avenue
New York, New York 10016