NEW YORK, Oct. 27, 2016 /PRNewswire/ -- Bronstein, Gewirtz
& Grossman, LLC is investigating potential claims on behalf of
purchasers of the securities of Yahoo! Inc. ("Yahoo!" or the
"Company") (NASDAQ:YHOO). Investors who purchased Yahoo! securities
between July 23, 2016 and
September 22, 2016 inclusive (the
"Class Period") are advised to contact Peretz Bronstein or his investor relations
analyst Yael Hurwitz at
info@bgandg.com or 212-697-6484.
The investigation concerns whether Yahoo! and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On July 23, 2016 Yahoo! announced
that Verizon would acquire some of Yahoo!'s assets for $4.825 billion. Excluded from the purchase
are Yahoo!'s cash and marketable securities and its equity
interests in Alibaba Group Holdings Ltd., Yahoo! Japan, and Excaliber IP LLC.
On September 22, 2016, Yahoo!
revealed that a "recent investigation" confirmed that sensitive
personal account information of at least 500 million account users
"was stolen from the company's network in late 2014 by what it
believes is a state-sponsored attack." Users' names, email
addresses, phone numbers, dates of birth, hashed passwords, and in
some encrypted or unencrypted security questions and answers were
included in the data breach. CEO Marissa
Mayer allegedly knew of the hack since at least as early as
July 2016 but concealed this
information from investors, regulators and Verizon.
From the July 23, 2016
announcement, the price of Yahoo! Inc. stock traded up roughly
15%. Then on September 22, 2016
when Yahoo! announced that it was hacked and over 500 million
users' information had been stolen, the price of Yahoo! Stock
dropped drastically. Verizon and Yahoo! are currently renegotiating
the acquisition of Yahoo!'s assets, and are discussing a
$1 billion discount. Following
this news Yahoo! stock dropped from $44.83 per share to as low as $41.35 per share, or about 8%.
If you are aware of any facts relating to this investigation, or
purchased shares Yahoo!, you can assist this investigation by
visiting the firm's site: http://www.bgandg.com/yhoo. You can also
contact Peretz Bronstein or his
Investor Relations Analyst, Yael
Hurwitz of Bronstein, Gewirtz & Grossman, LLC:
212-697-6484 or via email info@bgandg.com. Those who inquire
by e-mail are encouraged to include their mailing address, email
and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC