LOS ANGELES--(BUSINESS WIRE)--Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Yahoo! Inc. (“Yahoo” or the “Company”) (NASDAQ:YHOO), concerning possible violations of federal securities laws. Investors who purchased or otherwise acquired Yahoo shares between November 12, 2013 and December 14, 2016, inclusive (the “Class Period”), are encouraged to contact the firm prior to the March 27, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The investigation is centered on whether Yahoo and some of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, or committed violations of Sections 11 and 15 of the Securities Act of 1933.
On December 14, 2016, Yahoo announced that it had a data breach, with data from more than 1 billion user accounts at risk during August 2013. When this news was released to the public, Yahoo’s share price dropped as much 6.5% on December 15, 2016. Furthermore, it is assumed that the data breach threatens Verizon’s purchase of Yahoo. Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.