SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Youku Tudou Inc. - YOKU

NEW YORK, March 20, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Youku Tudou Inc. ("Youku" or the "Company") (NYSE: YOKU).  Such investors are advised to contact Robert S. Willoughby at [e-mail] or 888-476-6529, ext. 237.

The investigation concerns whether Youku and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

On March 19, 2014, Youku announced that "as a result of the routine review by the Securities and Exchange Commission (the "Commission") of the Company's annual report on Form 20-F for the fiscal year ended December 31, 2013 ("2013 20-F"), the Company received, and responded to, comments and queries from the staff of the Commission regarding certain accounting treatment adopted by the Company in its historical financial statements."  The issues addressed relate to the Company's recognition of revenue, among other matters.

On this news, shares of Youku fell $1.65 per share to $13.50, or more than 10.89%, in intra-day trading on March 20, 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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