BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the March 19, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Yelp, Inc. (“Yelp” or the “Company”) (NYSE: YELP) securities between February 10, 2017 and May 9, 2017, inclusive (the “Class Period”). Yelp investors have until March 19, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Yelp investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On May 9, 2017, the Company announced its first quarter 2017 financial results. While Yelp’s Q1 2017 revenue and adjusted EBITDA met the Company’s prior expectations, the Company disclosed that it was revising its FY 2017 guidance downward to reflect poor retention rates with existing customers. On this news, Yelp’s stock price closed at $34.70 on May 9, 2017 and fell to $28.33 on May 10, 2017, thereby injuring investors.
The complaint filed in this class action alleges that defendants misled Yelp investors regarding retention rates for existing customers, as well as revenues and growth rates for the Company’s new customers. The complaint also alleges that Yelp CEO Jeremy Stoppelman personally benefited from withholding such information by selling over $25,000,000 worth of Yelp shares (approximately 20% of his Yelp holdings) while in possession of material nonpublic information regarding Yelp’s poor financial results.
If you purchased shares of Yelp during the Class Period you may move the Court no later than March 19, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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