The Klein Law Firm Announces a Class Action Filed on Behalf of Weibo Corp. Shareholders & a Lead Plaintiff Deadline of August...
July 12 2017 - 1:58PM
Business Wire
The Klein Law Firm announces that a class action complaint has
been filed on behalf of shareholders of Weibo Corporation (NASDAQ:
WB) who purchased shares between April 27,
2017 and June 22, 2017. The
action, which was filed in the United States District Court for the
Northern District of California, alleges that the Company violated
federal securities laws.
In particular, the complaint alleges that throughout the Class
Period, defendants made materially false and/or misleading
statements and/or failed to disclose that (1) Weibo lacks a
requisite internet audio/video program transmission license; and
(2) Weibo was posting certain programs with content in violation of
Chinese government regulations on its site. On June 22, 2017, Weibo
announced receipt of a notice from The State Administration of
Press, Publication, Radio, Film and Television of the People’s
Republic of China (the “SAPPRFT”). The notice requests that local
authorities “take measures to suspend several companies’ video and
audio services due to their lacking of an internet audio/video
program transmission license and posting of certain commentary
programs with content in violation of government regulations on
their sites.”
Shareholders have until August 28, 2017 to petition the
court for lead plaintiff status. Your ability to share in any
recovery does not require that you serve as lead plaintiff. You may
choose to be an absent class member.
If you suffered a loss during the class period and wish to
obtain additional information, please contact Joseph Klein, Esq. by
telephone at 212-616-4899 or visit
http://www.kleinstocklaw.com/pslra-sb/weibo-corporation?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20170712006114/en/
The Klein Law FirmJoseph Klein, Esq., 212-616-4899Fax:
347-558-9665www.kleinstocklaw.com
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