Hagens Berman Reminds Investors With Losses Greater Than $100,000 in Youku Tudou, Inc. (NYSE: YOKU) of May 26th Lead Plaintif...
19 Maio 2015 - 9:30AM
Hagens Berman Sobol Shapiro LLP, a national investor-rights law
firm, reminds investors with losses over $100,000 of the May 26,
2015 lead plaintiff deadline in the class action lawsuit filed
against Youku Tudou, Inc. (NYSE:YOKU) (“YOKU” or “the Company”).
The suit is pending in U.S. District Court for the Southern
District of New York, and investors who purchased YOKU securities
between May 15, 2013 and March 19, 2015 (the “Class Period”) have
until May 26, 2015 to move for lead plaintiff.
If you have losses of over $100,000 from your purchases of YOKU
securities during the Class Period you may contact Hagens Berman
Partner Reed Kathrein, who is leading the firm’s investigation, by
calling (510) 725-3000, emailing YOKU@hbsslaw.com or visiting
http://hb-securities.com/investigations/YOKU to discuss this
litigation, fully understand the lead plaintiff process, and review
Hagens Berman’s qualifications to prosecute this litigation.
You do not need to move for lead plaintiff to be a member of the
Class, but if you do, you should carefully research your selection
of law firm’s reputation and respect in the legal community, as
well as qualifications to represent you as a lead plaintiff.
YOKU is an online video and internet television company in
China. The lawsuit alleges that Defendants made false and/or
misleading statements and/or failed to disclose that during the
Class Period, 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.
On March 19, 2015, the Company announced a net loss of $51.3
million and also announced that its past accounting practices were
under investigation by the Securities and Exchange Commission.
These announcements caused YOKU’s share price to decrease
significantly.
“We are investigating the alleged suspicious activity at Youku
Tudou,” said Hagens Berman partner Reed Kathrein, “what is emerging
is a company that seems to have run its business without regard for
shareholder value.”
If you were negatively impacted by your investment in YOKU
securities between May 15, 2013 and March 19, 2015, and would like
to learn more about this lawsuit and your ability to participate as
a lead plaintiff, please contact us for your no-cost
evaluation.
Whistleblowers: Persons with non-public
information regarding Youku should consider their options to help
in the investigation or take advantage of the SEC Whistleblower
program. The Dodd-Frank SEC Whistleblower Program, 15 U.S.C. §
78U-6, provides substantial monetary rewards to whistleblowers who
voluntarily provide original information to the SEC where such
information results in a successful enforcement action with
monetary sanctions exceeding $1 million. For more information, call
Reed Kathrein at (510) 725-3000 or email YOKU@hbsslaw.com.
About Hagens Berman
Hagens Berman Sobol Shapiro LLP is an investor-rights
class-action law firm headquartered in Seattle, Washington with
offices in nine cities. The firm represents investors,
whistleblowers, workers and consumers in complex litigation. More
about the firm and its successes can be found at www.hbsslaw.com.
Read the firm’s Securities Newsletter at
http://www.hb-securities.com/newsletter. The firm’s blog is located
at www.meaningfuldisclosure.com.
For the latest news from Hagens Berman, visit
http://www.hbsslaw.com/newsroom or follow us on Twitter at
@hagensberman.
Contact:
Reed Kathrein, (510) 725-3000
Youku Tudou Inc. American Depositary Shares, Each Representing 18 Class A Ordinary Shares. (NYSE:YOKU)
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