Wolf Haldenstein Adler Freeman & Herz LLP Commences a Class Action Lawsuit in United States District Court for the Southern D...
24 Abril 2015 - 10:05PM
Wolf Haldenstein Adler Freeman & Herz LLP has filed a class
action lawsuit against Youku Tudou, Inc. ("Youku" or the "Company")
(NYSE:YOKU) following the Company's announcement disclosing that
the Company had received and responded to inquiries from the
Securities and Exchange Commission (“SEC”) regarding certain
accounting treatment adopted by the Company in its historical
financial statements. The lawsuit was filed in the Southern
District of New York and is captioned Jahm v. Youku Tudou , Inc.,
15 - CV - 2875. The lawsuit affects all investors who own and
suffered losses in Youku American Depositary Receipts (ADRs)
purchased between May 15, 2013, and March 19, 2015, inclusive.
If you wish to serve as a lead plaintiff, you must move the
Court no later than May 26, 2015.
On March 19, 2015, Youku announced that it had received and
responded to queries from the SEC regarding certain accounting
treatment it adopted in its historical financial statements.
As a result, the Company is attempting to resolve the SEC's
comments and intends to file its 2014 Form 20-F by the end of April
2015.
The stock fell from a closing price of $15.15 on Thursday, March
19, 2015, to close at $13.50 on March 20, 2015, a drop of
approximately 9%, on extremely high volume. Shares of the
Company continued to fall in the weeks following the announcement,
closing at just $12.36 on March 30, 2015, representing a total drop
of over 18%. The loss of market value was approximately $365
million.
You may move to be appointed as lead plaintiff by May 26, 2015.
A lead plaintiff is a representative party that acts on
behalf of other class members in directing the litigation. In
order to be appointed lead plaintiff, the Court must determine that
the class member’s claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members
may together serve as “lead plaintiff.” Your ability to share
in any recovery is not, however, affected by the decision whether
or not to serve as a lead plaintiff. You may retain Wolf
Haldenstein, or other counsel of your choice, to serve as your
counsel in this action. Additional information about the case may
be obtained at www.whafh.com.
Wolf Haldenstein has extensive experience in the prosecution of
securities class actions and derivative litigation in state and
federal trial and appellate courts across the country. The
firm has over 70 attorneys in various practice areas; and offices
in New York, Chicago and San Diego. The reputation and
expertise of this firm in shareholder and other class litigation
has been repeatedly recognized by the courts, which have appointed
it to major positions in complex securities multi-district and
consolidated litigation.
If you wish to discuss this action or have any questions, please
contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone
at (800) 575-0735, or via e-mail at classmember@whafh.com.
All e-mail correspondence should make reference to “Youku Yudou
investigation.”
Wolf Haldenstein Adler Freeman & Herz LLP
Matthew Guiney or Gregory Stone
Email: Guiney@whafh.com, gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
Youku Tudou Inc. American Depositary Shares, Each Representing 18 Class A Ordinary Shares. (NYSE:YOKU)
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Youku Tudou Inc. American Depositary Shares, Each Representing 18 Class A Ordinary Shares. (NYSE:YOKU)
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