NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Weibo Corporation (NASDAQ:WB) resulting from allegations that Weibo may have issued materially misleading business information to the investing public.
On June 22, 2017, Weibo revealed that it received notice from The State Administration of Press, Publication, Radio, Film and Television of the People’s Republic of China requesting that local authorities “take measures to suspend several companies’ video and audio services due to their lacking of an internet audio/video program transmission license and posting of certain commentary programs with content in violation of government regulations on their sites.” On this news, shares of Weibo fell $4.71 per share or over 6% from its previous closing price to close at $72.25 per share on June 22, 2017, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Weibo investors. If you purchased shares of Weibo on or before June 22, 2017, please visit the firm’s website at http://www.rosenlegal.com/cases-1151.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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