An investigation for investors in Expedia Group, Inc. (NASDAQ: EXPE) shares over potential securities laws violations by Expedia Group, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 01/30/2020 -- Expedia Group, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Expedia Group, Inc. (NASDAQ: EXPE), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether certain statements by Expedia Group, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Expedia Group, Inc. reported that its annual Total Revenue rose from over $10.05 billion in 2017 to over $11.22 billion in 2018 and that its Net Income increased from $377.96 million in 2017 to $406 million in 2018.
On November 6, 2019, Expedia Group, Inc. announced its third quarter financial results disclosing a 22% decrease in net income year over year.
Shares of Expedia Group, Inc. (NASDAQ: EXPE) declined from $138.67 oer share in October 2019 to as low as $93.53 per share on November 19, 2019.
Then, on December 4, 2019, the Company announced the resignation of both its Chief Executive Officer and its Chief Financial Officer. Regarding these resignations, Barry Diller, Chairman of the Board, stated "Ultimately, senior management and the Board disagreed on strategy. Earlier this year, Expedia embarked on an ambitious reorganization plan with the goal of bringing our brands and technology together in a more efficient way. This reorganization, while sound in concept, resulted in a material loss of focus on our current operations, leading to disappointing third quarter results and a lackluster near-term outlook."
Those who purchased shares of Expedia Group, Inc. (NASDAQ: EXPE) have certain options and should contact the Shareholders Foundation.
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