|[August 11, 2014]
Yelp Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS --(Business Wire)--
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor LLP announce that a class action lawsuit has been filed
against Yelp (News - Alert), Inc. ("Yelp" or "Company") (NYSE: YELP) and several
officers and directors for acts taken during the period of October 29,
2013 to April 3, 2014 (the "Class Period").
Based upon the allegations in the class action, the firms are
investigating additional lega claims against the Officers and Board of
Directors of Yelp. If you are an affected Yelp shareholder and want to
learn more about the lawsuit or join the action, contact Willie Briscoe
at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via
email at email@example.com.
There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain
provisions of the Securities Exchange Act of 1934. Specifically, the
complaint alleges, among other things, that defendants misrepresented
and/or failed to disclose that: a) Reviews on Yelp's website were not
all authentic "firsthand" reviews; b) Algorithms purportedly designed to
screen unreliable reviews did not comprehensively do so and the Company
allowed such unreliable reviews to remain prominent while the Company
tried to sell services designed to suppress negative reviews or make
them go away; and c) In light of the above, the representations
concerning the Company's current and future financial condition and
prospects, and the extent to which they were reliant upon undisclosed
business practices, did not have a reasonable basis. According to the
complaint, when the truth regarding Yelp's business practices came to
light, the Company's stock price dropped.
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
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