IRVINE, CA / ACCESSWIRE / July 12, 2017 / Khang & Khang LLP (the "Firm") announces the filing of a securities class action lawsuit against Weibo Corporation ("Weibo" or the "Company") (NASDAQ: WB). Investors who purchased or otherwise acquired shares between April 27, 2017 and June 22, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the August 28, 2017 lead plaintiff motion deadline.
If you purchased Weibo shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, throughout the Class Period, Weibo made false and/or misleading statements and/or failed to disclose: that the Company lacks a required internet audio/video program transmission license; that Weibo was posting some commentary programs with content in violation of Chinese government regulations on its site; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times. On June 22, 2017, Weibo announced that it received a notice from regulators in China that certain companies will have video and audio services suspended for lacking an internet audio/video program transmission license and for posting commentary that violates government regulations. When this news was announced, shares of Weibo declined in value materially, which harmed investors according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions regarding this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
This press release may constitute Attorney Advertising in some jurisdictions.
Contact
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
SOURCE: Khang & Khang LLP
