Blucora receives securities class action lawsuit

A law office recently announced that it filed a securities class action lawsuit against a technology company due to allegations of federal securities law violations.

Robbins Arroyo, LLP, noted that a lawsuit was filed in the U.S. District Court for the Western District of Washington at Seattle against the leaders of Blucora, Inc. This includes all shareholders who purchased interests in the company during the class period between Nov. 5, 2013, and Feb. 20, 2014.

The company's leaders allegedly violated the Securities Exchange Act of 1934 for a multitude of reasons. Gotham City Research, LLC, released a report on Feb. 18, 2014 that noted Blucora's revenue from Google declined, while a sizable portion of its internet traffic was through actions such as malware and click fraud. When this surfaced, the company's stock fell to $21.70 per share, $2 lower than the previous level. On Feb. 21, 2014, the company's stock dropped to $19.80 per share due to its announcement that it partially renewed its services agreement with Google.

It is an option for shareholders to speak with the law office in order to learn more about the case and how it may affect their rights as stockholders. The best person to speak on these matters is Darnell Donahue, and he can be reached by telephone or email. Additionally, there is more information available on the law office's website.

Second lawsuit filed
Another law firm noted that it also filed a class action lawsuit against Blucora in the same court for the aforementioned class period.

The Law Offices of Howard G. Smith noted that the litigation alleges that the company's leaders made a number of statements that were either false or misleading regarding its business practices, operations and other company aspects.

It is also an option for shareholders to apply for the lead plaintiff position in the case, but all appropriate paperwork needs to be filed by July 14, 2014. This is not a mandatory position, and being an absent class member is an option.

For those who are interested in learning more about the case, it is also possible to speak with the law firm to discuss these matters. The best person to talk to is Howard Smith, and he can be reached by email, telephone or mail. Further details are available on the law office's website.