YOUKU SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess ...
03 Abril 2015 - 11:00PM
Business Wire
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until May 25, 2015 to file lead
plaintiff applications in a securities class action lawsuit against
Youku Tudou, Inc. (NYSE: YOKU) if they purchased the Company’s
securities between February 27, 2014 and March 19, 2015, inclusive
(the “Class Period”). This action is pending in the United States
District Court for the Southern District of New York.
What You May Do
If you purchased shares of Youku and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost
to you, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve
as a lead plaintiff in this class action, you must petition the
Court by May 25, 2015.
About the Lawsuit
Youku and certain of its executives are charged with failing to
disclose material information during the Class Period, violating
federal securities laws.
On March 19, 2015, Youku released its fourth quarter results,
reporting a net loss of $51.3 million, compared to $4 million in
the same quarter of 2013. Youku also disclosed that the SEC is
investigating certain aspects of the Company’s past accounting
practices relating to revenue recognition for multi-part deals,
accounting of “non-monetary exchanges of licensed content” and the
classification of licensed content as long-lived assets and that it
is now “evaluating the impact to its 2014 and historical financial
statements.”
On this news, the price of Youku’s shares plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers
with significant experience litigating complex securities class
actions nationwide on behalf of both institutional and individual
shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLCLewis Kahn, Managing Partner,
877-515-1850lewis.kahn@ksfcounsel.com
Youku Tudou Inc. American Depositary Shares, Each Representing 18 Class A Ordinary Shares. (NYSE:YOKU)
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