The Brualdi Law Firm, P.C. Announces Class Action Lawsuit Against Youku Tudou Inc.
02 Abril 2015 - 7:21PM
The Brualdi Law Firm, P.C. announces that lawsuits have been
commenced in the United States District Court for the Central
District of California and in the United States District Court for
the Southern District of New York on behalf of purchasers of Youku
Tudou Inc. ("Youku Tudou" or the "Company") (NYSE:YOKU) securities
during the period between February 27, 2014 and March 19, 2015 (the
"Class Period") for violations of federal securities laws.
No class has yet been certified in the above action. Until
a class is certified, you are not represented by counsel unless you
retain one. If you purchased Youku Tudou securities during the
Class Period, and wish to move the court for appointment of lead
plaintiff, you must do so by May 25, 2015. A lead plaintiff is
a representative party acting on behalf of other class members in
directing the litigation. The lead plaintiff will be selected from
among applicants claiming the largest loss from investment in the
Company during the Class Period. You do not need to seek
appointment as a lead plaintiff in order to share in any
recovery.
To be a member of the class you need not take any action at this
time, and you may retain counsel of your choice. If you wish
to discuss this action or have any questions concerning this Notice
or your rights or interests with respect to these matters, please
contact The Brualdi Law Firm, P.C. as set forth below.
The lawsuit alleges that defendants made false and/or misleading
statements and/or failed to disclose that Youku Tudou Inc. (the
"Company"): (i) improperly recognized revenue for multi-element
arrangements; (ii) improperly recorded certain nonmonetary
transactions to exchange online broadcasting rights of video
content with other online video broadcasting companies; (iii)
improperly accounted for its licensed content; (iv) lacked adequate
internal controls over its financial reporting; and (v) as a
result, its financial statements were materially false and
misleading at all relevant times. The lawsuit also alleges that
when the truth was revealed to investors, the price of the
Company's securities fell, damaging investors.
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
CONTACT: Richard B. Brualdi, Esq.
John F. Keating, Jr., Esq.
David Titus, Esq.
The Brualdi Law Firm, P.C.
Telephone: (212) 952-0602
(888) 823-9041
Email: rbrualdi@brualdilawfirm.com
jkeating@brualdilawfirm.com
dtitus@brualdilawfirm.com
Website: www.brualdilawfirm.com
Youku Tudou Inc. American Depositary Shares, Each Representing 18 Class A Ordinary Shares. (NYSE:YOKU)
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