Notice of Proposed Settlement Involving all Persons who Purchased or Otherwise Acquired Yelp Inc. Common Stock: You may be Entitled to a CASH AWARD

SEATTLE, Sept. 12, 2022 /PRNewswire/ --

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
SAN FRANCISCO DIVISION

SUMMARY NOTICE OF (I) PROPOSED SETTLEMENT AND PLAN OF ALLOCATION; (II) SETTLEMENT HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

This notice is for all persons who, during the period between February 10, 2017 and May 9, 2017, inclusive, purchased or otherwise acquired the common stock of Yelp Inc., and were damaged thereby (the "Class"):

PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of California, that the Lead Plaintiff in the above-captioned litigation (the "Action") has reached a proposed settlement of the Action for $22,250,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action. 

A hearing will be held on January 19, 2023 at 1:30 p.m., before the Honorable Edward M. Chen at the United States District Court for the Northern District of California, United States Courthouse, Courtroom 5, 17th Floor, 450 Golden Gate Avenue, San Francisco, CA 94102, to determine (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated April 14, 2022 (and in the Notice of (I) Proposed Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice")) should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved.

If you are a member of the Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund.  If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at Azar v. Yelp, Inc., c/o JND Legal Administration, P.O. Box 91030, Seattle, WA 98111, 1-888-964-0696.  Copies of the Notice and Claim Form can also be downloaded from the website maintained by the Claims Administrator, www.YelpSecuritiesLitigation.com. 

If you are a member of the Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form online or postmarked no later than December 27, 2022.  If you are a Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

In June 2020, the Court ordered Lead Counsel to facilitate the mailing of (i) the Notice of Pendency of Class Action, and (ii) Request for Exclusion From the Class form (collectively, "Certified Class Notice") to potential Class Members.  The Certified Class Notice provided members of the Class with an opportunity to request exclusion from the Class.  If you previously submitted a request for exclusion and you wish to remain excluded, no further action is required and you will be excluded from the Class.  Persons who previously submitted a request for exclusion may, however, opt back into the Class for the purpose of being eligible to receive a payment from the Settlement.  In order to opt back into the Class, you must submit a request to do so in writing such that it is received no later than January 9, 2023, in accordance with the instructions set forth in the Notice.  Any Person who previously submitted a request for exclusion and timely opts back into the Class shall be afforded all the rights and obligations of a Class Member.  If you previously submitted a request for exclusion from the Class and do not opt back into the Class in accordance with the instructions set forth in the Notice, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the Settlement.  Members of the Class do not have a second opportunity to request exclusion from the Class. 

Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses, must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than December 29, 2022, in accordance with the instructions set forth in the Notice.

Please do not contact the Court, the Clerk's office, Yelp, or its counsel regarding this notice.  All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.  Visit www.YelpSecuritiesLitigation.com or call toll-free at (888) 964-0696.

Requests for the Notice and Claim Form should be made to:

Yelp, Inc. Securities Litigation
c/o JND Legal Administration
P.O. Box 91030
Seattle, WA 98111
1-888-964-0696
www.YelpSecuritiesLitigation.com

Inquiries, other than requests for the Notice and Claim Form, should be made to
Lead Counsel:

GLANCY PRONGAY & MURRAY LLP
Kara M. Wolke, Esq.
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
(888) 773-9224
[email protected]

-AND-

HOLZER & HOLZER LLC
Corey D. Holzer, Esq.
211 Perimeter Center Parkway
Suite 1010
Atlanta, GA 30346
(770) 392-0090
[email protected]

By Order of the Court

SOURCE JND Legal Administration