DALLAS, Aug. 24, 2012 /PRNewswire/ -- Shareholders who purchased or acquired shares of Demand Media, Inc. (NYSE: DMD) traceable to the company's initial public offering are encouraged to contact attorney Hamilton Lindley at 877-583-2855 or [email protected] about their rights and remedies in relation to the plummeting stock price of the company.
"Although Demand Media relies heavily on the Google search engine methodology, Demand Media knew or should have known that Google was changing its methodology that would cause a significant decrease in website traffic to Demand Media websites," securities lawyer Hamilton Lindley said. "As a result, the company's stock fell from $24.16 to $14.69 per share. The potential shareholder lawsuit will seek to recover the losses for Demand Media stockholders and institute proper controls over the company to avoid this type of wrongdoing in the future."
Goldfarb LLP lawyers have significant experience representing shareholders in securities lawsuits nationwide. Demand Media shareholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at [email protected] or 877-583-2855.
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SOURCE Goldfarb LLP