NEW YORK, — Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Yelp Inc. (NYSE:YELP) from February 10, 2017 through May 9, 2017, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Yelp investors under the federal securities laws.
To join the Yelp class action, go to http://rosenlegal.com/cases-1274.html or call Phillip Kim, Esq. or Daniel Sadeh, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose: (1) Yelp’s transition from a Cost-Per-Thousand-Impressions to a Cost-Per-Click model in FY2016 created a distinct cohort of local advertisers that would reach the end of their contracts during the first part of FY2017; (2) new customers that signed on with Yelp under the Cost-Per-Click pricing model had lower retention rates because the customers did not effectively compete with Yelp’s more established customers; and (3) as a result of the lower retention rates, Yelp was not on track to achieve its financial guidance or results during the Class Period. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 19, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1274.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Daniel Sadeh, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.