|By Marketwired .||
|August 28, 2013 10:00 PM EDT||
NEW ORLEANS, LA -- (Marketwired) -- 08/28/13 -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 28, 2013 to file lead plaintiff applications in a securities class action lawsuit against Expedia Inc. (NASDAQ: EXPE), if they purchased the Company's securities during the period between July 27, 2012 and July 25, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Western District of Washington.
What You May Do
If you purchased shares of Expedia and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (email@example.com) or KSF Partner Melinda Nicholson (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 28, 2013.
About the Lawsuit
Expedia and certain of its executives are charged with issuing a series of materially false and misleading statements regarding the Company's business and prospects, including the impact that its 2011 split into two publicly-traded companies and resultant spin-off of TripAdvisor would have on Expedia's revenues and profits, during the Class Period, violating federal securities laws.
On July 25, 2013, Expedia announced its second quarter 2013 financial results. Expedia's second-quarter 2013 profit fell to $71.5 million from $105.2 million a year earlier, bookings rose only 13%, well below the 19% surge the Company posted during 2012, and Expedia drastically lowered its guidance for 2013 adjusted earnings.
On this news, Expedia shares fell by over 27%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.