SAN DIEGO, Sept. 10, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Expedia Inc (EXPE) common stock over alleged violations of Federal Securities Laws by Expedia Inc in connection with certain allegedly false and misleading statements made between July 27, 2012 and July 25, 2013.
Investors who purchased a significant amount of shares of Expedia Inc (EXPE) between July 27, 2012 and July 25, 2013., and / or those who purchased EXPE shares prior to July 2012 and currently hold any of those shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Expedia Inc (EXPE) between July 27, 2012 and July 25, 2013, that Expedia Inc and certain of its officers and directors violated the Securities Exchange Act of 1934. More specifically, the plaintiff alleges that between July 27, 2012 and July 25, 2013, defendants issued materially allegedly false and misleading statements regarding the Company's business and prospects, including the impact that spinning off TripAdvisor would have on Expedia's revenues and profits and that as a result of defendants' alleged false statements and/or omissions, Expedia's stock traded at artificially inflated levels between July 27, 2012 and July 25, 2013.
On July 25, 2013, Expedia Inc announced its second quarter 2013 earnings. Among other things, Expedia Inc reported that its second quarter Revenue rose from over $1.03 billion in 2012 to over $1.2 billion in 2013. However, its second quarter Net Income declined from $105.24 million in 2012 to $71.50 million in 2013.
Shares of Expedia Inc declined from $65.62 per share on July 25, 2013, to as low as $45.70 per share on August 21, 2013.
The plaintiff seeks to recover damages.
Those who purchased shares of Expedia Inc (EXPE) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.