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”)
(NasdaqGS: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 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.
Copyright Business Wire 2014