NEW YORK, July 24, 2017 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, reminds investors in Weibo Corporation ("Weibo" or the "Company") (NASDAQ: WB) of
the August 28, 2017 deadline to seek the role of lead plaintiff in a federal securities class
action that has been filed against the Company.
If you invested in Weibo stock or options between April 27, 2017 and June 22, 2017 and would like to discuss your legal rights, click here:
www.faruqilaw.com/WB. There is no cost or obligation
to you.
You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the District of New Jersey on
behalf of all those who purchased Weibo securities between April 27, 2017 and June 22, 2017 (the "Class Period"). The case, Goldsmith v. Weibo Corporation., No. 2:17-cv-04728
was filed on June 27, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws. Throughout the Class Period
Weibo made false and/or misleading statements and/or failed to disclose that: (1) Weibo lacks a requisite internet audio/video
program transmission license; (2) Weibo was posting certain commentary programs with content in violation of Chinese government
regulations on its site; and (3) as a result, Weibo's public statements were materially false and misleading at all relevant
times.
Specifically, On June 22, The Wall Street Journal published an article stating that the
State Administration of Press, Publication, Radio, Film and Television of the People's Republic of
China ordered Weibo to stop streaming political videos that were not in line with government regulations.
After the announcement, Weibo's share price fell from $76.96 per share on June 21, 2017 to a closing price of $72.25 on June
22, 2017—a $4.71 or a 6.52% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who
is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of
the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Weibo's conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome
with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated
in a confidential manner.
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SOURCE Faruqi & Faruqi, LLP