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Yahoo! Inc. (YHOO)

NASDAQ:YHOO

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Yahoo! Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Yahoo! Inc. (“Yahoo!” or the “Company”) (NASDAQ:YHOO) of the March 27, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Yahoo common shares between November 12, 2013 and December 14, 2016 (the “Class Period”).  The case, Madrack v. Yahoo! Inc. et al., No. 17-cv-00373 was filed on January 24, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to store users’ personal information with an up-to date and secure encryption scheme.

Initially, on September 22, 2016, Yahoo announced that unidentified hackers had obtained information in late 2014 on more than 500 million Yahoo accounts. Then, on December 14, 2016, during post-market hours, Yahoo announced that more than 1 billion user accounts were compromised though a data breach in August 2013.  Following the announcement, Verizon Communications Inc. announced that it would consider an amendment to the terms of its deal with Yahoo to reflect the impact of the data breach.

On this news, Yahoo’s share price fell from $40.91 per share on December 14, 2016 to a closing price of $38.41 on December 15, 2016—a $2.50 or a 6.11% drop.

Take Action

If you invested in Yahoo stock or options between November 12, 2013 and December 14, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Yahoo’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Yahoo! Inc. (YHOO)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/25/2017

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