Faruqi and Faruqui, LLP Logo
Share this page

Weibo Corporation (WB)

NASDAQ:WB

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Weibo Corporation To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Weibo Corporation (“Weibo” or the “Company”) (NASDAQ:WB) of the August 28, 2017 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Weibo stock or options between April 27, 2017 and June 22, 2017 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you.

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. 

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Weibo securities between April 27, 2017 and June 22, 2017 (the “Class Period”).  The case, Goldsmith v. Weibo Corporation., No. 2:17-cv-04728 was filed on June 27, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws. Throughout the Class Period Weibo made false and/or misleading statements and/or failed to disclose that: (1) Weibo lacks a requisite internet audio/video program transmission license; (2) Weibo was posting certain commentary programs with content in violation of Chinese government regulations on its site; and (3) as a result, Weibo's public statements were materially false and misleading at all relevant times.

Specifically, On June 22, The Wall Street Journal published an article stating that the State Administration of Press, Publication, Radio, Film and Television of the People’s Republic of China ordered Weibo to stop streaming political videos that were not in line with government regulations.

After the announcement, Weibo’s share price fell from $76.96 per share on June 21, 2017 to a closing price of $72.25 on June 22, 2017—a $4.71 or a 6.52% drop.

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:
    Weibo Corporation (WB)
  •    

* 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:

  • 06/27/2017

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.