NEW YORK, Oct. 27, 2016 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Yahoo! Inc. ("Yahoo!" or the "Company") (NASDAQ: YHOO). Investors who purchased Yahoo! securities between July 23, 2016 and September 22, 2016 inclusive (the "Class Period") are advised to contact Peretz Bronstein or his investor relations analyst Yael Hurwitz at firstname.lastname@example.org or 212-697-6484.
The investigation concerns whether Yahoo! and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 23, 2016 Yahoo! announced that Verizon would acquire some of Yahoo!'s assets for $4.825 billion. Excluded from the purchase are Yahoo!'s cash and marketable securities and its equity interests in Alibaba Group Holdings Ltd., Yahoo! Japan, and Excaliber IP LLC.
On September 22, 2016, Yahoo! revealed that a "recent investigation" confirmed that sensitive personal account information of at least 500 million account users "was stolen from the company's network in late 2014 by what it believes is a state-sponsored attack." Users' names, email addresses, phone numbers, dates of birth, hashed passwords, and in some encrypted or unencrypted security questions and answers were included in the data breach. CEO Marissa Mayer allegedly knew of the hack since at least as early as July 2016 but concealed this information from investors, regulators and Verizon.
From the July 23, 2016 announcement, the price of Yahoo! Inc. stock traded up roughly 15%. Then on September 22, 2016 when Yahoo! announced that it was hacked and over 500 million users' information had been stolen, the price of Yahoo! Stock dropped drastically. Verizon and Yahoo! are currently renegotiating the acquisition of Yahoo!'s assets, and are discussing a $1 billion discount. Following this news Yahoo! stock dropped from $44.83 per share to as low as $41.35 per share, or about 8%.
If you are aware of any facts relating to this investigation, or purchased shares Yahoo!, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/yhoo. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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