NEW YORK--(BUSINESS WIRE)--The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Youku Tudou, Inc. (NYSE:YOKU) between February 27, 2014 and March 19, 2015.
You are hereby notified that a class action has been commenced in the USDC for the Southern District of New York. If you purchased Youku Tudou, Inc. (“Youku”) securities between February 27, 2014 and March 19, 2015, your rights may be affected by this action. To get more information, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The allegations in the complaint concern, among other allegations, an alleged lack of adequate internal controls over the Company’s financial reporting, including improper recording of certain nonmonetary transactions and improperly recognized revenue for multi-element arrangements.
On March 19, 2015, Youku reported a net loss of $51.3 million for its fourth quarter, compared to $4 million in the same quarter of 2013, and further disclosed that the SEC is investigating certain aspects of the Company’s past accounting practices.
If you suffered a loss in Youku you have until May 26, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.