NEW ORLEANS, April 24, 2015 /PRNewswire/ -- 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 26, 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 the expanded period of
May 15, 2013 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 26, 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.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC
