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NYSE: YELP Shareholder Notice: Update in Lawsuit against Yelp Inc announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / May 11, 2020 / The Shareholders Foundation, Inc. announces that a that a lawsuit is pending for certain investors in Yelp Inc (YELP) shares.

Investors, who purchased shares of Yelp Inc (YELP) prior to February 2017 and continue to hold any of those NYSE: YELP shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On January 18, 2018, a lawsuit was filed against Yelp Inc over alleged securities laws violations. The plaintiff alleged, that the defendants misled Yelp investors regarding the retention rates for existing customers, as well as revenues and growth rates for the Company's new customers, and, furthermore that Yelp CEO Jeremy Stoppelman personally benefited from withholding such information by selling over $25,000,000 worth of Yelp shares (approximately 20% of his Yelp holdings) while allegedly in possession of material nonpublic information regarding Yelp's poor financial results.

On June 25, 2018, an amended Complaint was filed and on August 2, 2018, the defendants filed a Motion to Dismiss the amended Complaint.

On November 27, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On August 14, 2019, a motion for Class Certification was filed, which the court granted on October 22, 2019.

Those who purchased Yelp Inc (YELP) shares should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.



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