|By PR Newswire||
|April 4, 2014 07:00 PM EDT||
NEW YORK, April 4, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Yelp, Inc. ("Yelp" or the "Company")(NYSE: YELP)(CUSIP: 985817105). Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Yelp and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 3, 2014, a report by Zacks Equity Research stated that, "the FTC recently announced that it received more than 2,046 complaints against Yelp. According to The Wall Street Journal, most of the complaints were lodged by small business owners alleging that Yelp posts fraudulent reviews that defame their reputation."
On this news, shares of Yelp shares fell $4.85, or more than 6.87%, on April 4, 2014, on unusually heavy trading volume.
The Pomerantz Firm, with offices in New York, Chicago, San Diego, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP