An investigation on behalf of current long term investors in Yelp Inc (NYSE: YELP) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 12/12/2018 -- An investigation was announced over potential breaches of fiduciary duties by certain directors and officers of Yelp Inc.
Investors who are current long term investors in Yelp Inc (NYSE: YELP) shares, 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 for investors in NYSE: YELP stocks follows a lawsuit filed recently against Yelp Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: YELP stocks, concerns whether certain Yelp directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleged that the defendants violated Federal Securities Laws. More specifically, the plaintiff claimed that between February 10, 2017 and May 9, 2017, the defendants misled Yelp investors regarding the retention rates for existing customers, as well as revenues and growth rates for the Company's new customers. And, furthermore that Yelp CEO Jeremy Stoppelman personally benefited from withholding such information by selling over $25,000,000 worth of Yelp shares (approximately 20% of his Yelp holdings) while allegedly in possession of material nonpublic information regarding Yelp's poor financial results. Shares of Yelp Inc (NYSE: YELP) declined from $35.70 per share on May 8, 2017 to as low as $27.38 per share on May 17, 2017.
Those who purchased shares of Yelp Inc (NYSE: YELP) have certain options and should contact the Shareholders Foundation.
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