STEVENSON, Md., May 14, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Washington on behalf of purchasers of Blucora, Inc. ("Blucora" or the "Company") (Nasdaq:BCOR) securities during the period between November 5, 2013 and February 20, 2014, inclusive (the "Class Period").
If you have suffered a loss from investment in Blucora securities purchased on or after November 5, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or financial obligation, click here: http://www.browerpiven.com/securitiesfraudcases.html.
You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than July 14, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that a significant portion of the Company's traffic was derived from malware, illicit traffic, pirated content and/or click fraud and that Google was unlikely to renew its contract with the Company on the same terms as its prior agreement. According to the complaint, following the February 18, 2014 publication of a research report asserting predicting a 60% decline in Blucora's revenue in coming quarters and that at least 50% of Blucora's traffic is derived from malware, click fraud, illicit traffic (e.g. child pornography) and other suspect traffic, and following the February 20, 2014 announcement by the Company that its Google Services Agreement was only partially renewed, the value of Blucora shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
