San Diego, CA -- (SBWIRE) -- 04/09/2012 -- An investigation for investors in NASDAE:TZOO shares, who purchased their NASDAQ:TZOO shares as early as February 2011 or earlier and currently hold (any of) those NASDAQ:TZOO shares, was announced over potential breaches of fiduciary duties by certain directors of Travelzoo Inc. in connection with certain financial statements.
Investors who purchased shares of Travelzoo Inc. (NASDAQ TZOO) prior to February 2011 and currently hold those TZOO shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation for current long term investors in NASDAQ:TZOO shares follows a lawsuit filed by investors who only purchased their TZOO stock in the period between April 21, 2011 and July 21, 2011. According to that complaint the plaintiff alleges Travelzoo Inc violated the Securities Exchange Act of 1934 by issuing a series of allegedly materially false and misleading statements.
On July 21, 2011, Travelzoo Inc. reported its second quarter 2011 Results. Even though Travelzoo’s second quarter Revenue increased from its first quarter Revenue 2011 of $36.96million and compared to its second quarter Revenue of $28.11million last year to a second quarter 2011 Revenue of $37.56million, Travelzoo Inc. reported earnings per share of $0.30, well below analysts' expectations of $0.39 per share.
Shares of Travelzoo Inc. (NASDAQ:TZOO) fell from a close of $ 85.71 on July 20, 2011 to a close of $56 on July 21, 2011.
Since then NASDAQ:TZOO shares continued to declined and closed on April 5, 2012 at $21.49 per share.
Those who purchased shares of Travelzoo Inc. (NASDAQ TZOO) prior to February 2011 and currently hold those TZOO shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego