NEW YORK, NY / ACCESSWIRE / December 4, 2019 / Levi & Korsinsky notifies investors that it has commenced an investigation of Expedia Group, Inc. ("Expedia" or "the Company") (EXPE) concerning possible violations of federal securities laws.
On November 6, 2019, after the market close, Expedia issued a press release for its third quarter financial results disclosing a 22% decrease in net income year over year. Following this news, the price of Expedia shares fell over 27%.
Then, on December 4, 2019, the Company announced the resignation of both its Chief Executive Officer and its Chief Financial Officer. Regarding these resignations, Barry Diller, Chairman of the Board, stated "Ultimately, senior management and the Board disagreed on strategy. Earlier this year, Expedia embarked on an ambitious reorganization plan with the goal of bringing our brands and technology together in a more efficient way. This reorganization, while sound in concept, resulted in a material loss of focus on our current operations, leading to disappointing third quarter results and a lackluster near-term outlook."
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Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
SOURCE: Levi & Korsinsky
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