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 Yelp Inc. ("Yelp") (NYSE:YELP) between February 9, 2017 and May 9, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. 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 complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Yelp’s transition from a Cost-Per-Thousand-Impressions (“CPM”) to a Cost-Per-Click (“CPC”) model in Fiscal 2016 created a distinct cohort of local advertisers that would reach the end of their contracts during the first part of Fiscal 2017; (ii) new customers that signed up with Yelp under the CPC pricing model had lower retention rates because the customers did not effectively compete with Yelp’s more established customers; and (iii) that, as a result of the lower retention rates, Yelp was not on track to achieve its financial guidance or results during the Class Period. On May 9, 2017, the Company announced their first quarter 2017 financial results and announced it was revising its full year 2017 guidance to reflect poor retention rates with existing customers.
If you suffered a loss in Yelp you have until March 19, 2018 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, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.