SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of SINA Corporation - SINA

NEW YORK, April 13, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of SINA Corporation ("SINA" or the "Company") (NASDAQ: SINA).  Such investors are advised to contact Robert S. Willoughby at [e-mail] or 888-476-6529, ext. 237.

The investigation concerns whether SINA 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 12, 2015, a report in the Financial Times stated that executives from Sina were summoned to a meeting with the Cyberspace Administration of China ("CAC") and criticized  for spreading "illegal information" and "violating morality", according to a statement from CAC.

Sina was accused of not properly censoring user accounts as well as "engaging in media hype" and allowing the spread of "rumours", pornography and "messages advocating heresies", a reference to banned religious movements such as Falun Gong.

On this news, shares of Sina fell $1.50 per share, to $36.00 or more than 4.03%, in intra-day trading on April 13, 2015.

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.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[e-mail]

 

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SOURCE Pomerantz LLP

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