Yelp Inc (NYSE: YELP) Investor Alert: Update in Lawsuit announced

A lawsuit is currently pending for certain investors in shares of Yelp Inc (NYSE: YELP) over alleged Securities Laws Violations by Yelp Inc.

Investors who are current long term investors in Yelp Inc (NYSE: YELP) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: YELP stocks follows a lawsuit filed against Yelp Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: YELP stocks, concerns whether certain Yelp Inc directors are liable in connection with the allegations made in that lawsuit.

On January 18, 2018, a lawsuit was filed against Yelp Inc over alleged securities laws violations.
The plaintiff claimed that between February 10, 2017 and May 9, 2017, the defendants misled Yelp investors regarding the retention rates for existing customers, as well as revenues and growth rates for the Company's new customers. And, furthermore that Yelp CEO Jeremy Stoppelman personally benefited from withholding such information by selling over $25,000,000 worth of Yelp shares (approximately 20% of his Yelp holdings) while allegedly in possession of material nonpublic information regarding Yelp's poor financial results. Shares of Yelp Inc (NYSE: YELP) declined from $35.70 per share on May 8, 2017 to as low as $27.38 per share on May 17, 2017.
On June 25, 2018, an amended Complaint was filed and on August 2, 2018, the defendants filed a Motion to Dismiss the amended Complaint.
On November 27, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.
On August 14, 2019, a motion for Class Certification was filed, which the court granted on October 22, 2019.

Those who purchased shares of Yelp Inc (NYSE: YELP) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.