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IRVINE, Calif., July 07, 2017 -- Khang & Khang LLP (the “Firm”) announces the filing of a securities class action lawsuit against Weibo Corporation (“Weibo” or the “Company”) (Nasdaq:WB). Investors who purchased or otherwise acquired shares between April 27, 2017 and June 22, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the August 28, 2017 lead plaintiff motion deadline.
If you purchased Weibo shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, throughout the Class Period, Weibo made false and/or misleading statements and/or failed to disclose: that the Company lacks a requisite internet audio/video program transmission license; that Weibo was posting certain commentary programs with content in violation of Chinese government regulations on its site; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. On June 22, 2017, Weibo announced that it received a notice from regulators in China that certain companies will have video and audio services suspended for lacking an internet audio/video program transmission license and for posting commentary that violates government regulations. Upon release of this information, shares of Weibo declined in value materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Contact Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 [email protected]
