Yelp receives securities class action lawsuit

A law firm recently announced that it filed a securities class action lawsuit against a business ratings company due to allegations of federal securities laws violations.

The Rosen Law Firm, P.A., noted that it filed the litigation against Yelp, Inc., and all shareholders who acquired stock during the class period between Oct. 29, 2013 and April, 3, 2014 will be affected by the action.

The allegations in the case include the leaders of Yelp potentially violating federal securities laws. This was allegedly due to the company not being completely clear on what firsthand experience reviews were on its website. It also may not have been completely forthright on its financial prospects.

Shareholders will have the ability to apply for the lead plaintiff position in the case. Those interested parties will need to file all paperwork with the court by Oct. 6, 2014 and be approved as adequate class representatives. This is not a mandatory action, and stockholders can still remain absent class members, allowing them to collect in the event of a financial payout.

For those individuals who have more questions about the lawsuit itself, the lead plaintiff position or how they may be affected by this process, speaking with the law office is an option. The best person to speak with is Phillip Kim, and he can be reached by telephone or email. Further details can be accessed on the law office's website.

Second lawsuit filed
Another litigation firm noted that it filed a class action lawsuit against the company for many of the aforementioned reasons.

Johnson and Weaver, LLP, noted that the lawsuit was filed against Yelp in the U.S. District Court for the Northern District of California for the same class period.

The company's leaders allegedly made a number of statements that were either misleading or false in regard to its financial condition and business prospects. This caused the company's stock to fall notably.

For shareholders who would like to learn more about the lawsuit, as well as how it may affect their rights and interests, it is an option to discuss these matters with the law office. The best person to get in contact with is Jim Baker, and he can be reached by telephone or email. Any shareholders who send an email should also leave their phone number.