The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Weibo Corporation (NASDAQ : WB) securities between April 28, 2016 and June 22, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Weibo lacks a requisite internet audio/video program transmission license; and (2) Weibo was posting certain programs with content in violation of Chinese government regulations on its site. On June 22, 2017, Weibo announced receipt of a notice from The State Administration of Press, Publication, Radio, Film and Television of the People’s Republic of China (the “SAPPRFT”). The notice requests that local authorities “take measures to suspend several companies’ video and audio services due to their lacking of an internet audio/video program transmission license and posting of certain commentary programs with content in violation of government regulations on their sites.”
If you suffered a loss in Weibo Corporation you have until August 28, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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