NEW YORK, NY / ACCESSWIRE / August 11, 2017 / The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Weibo Corporation ("Weibo") (NASDAQ: WB) between April 28, 2016 and June 22, 2017. You are hereby notified that Levi & Korsinsky has commenced the class action Chen v. Weibo Corporation (Case No. 2:17-cv-05694) in the United States District Court for the District of New Jersey. To get more information, go to: http://www.zlk.com/pslra-sba/weibo-corporation?wire=1, or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that, throughout the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Weibo lacks a requisite internet audio/video program transmission license; and (2) Weibo was posting certain programs with content in violation of Chinese government regulations on its site. On June 22, 2017, Weibo announced receipt of a notice from The State Administration of Press, Publication, Radio, Film and Television of the People's Republic of China (the "SAPPRFT"). The notice requests that local authorities "take measures to suspend several companies' video and audio services due to their lacking of an internet audio/video program transmission license and posting of certain commentary programs with content in violation of government regulations on their sites."
If you suffered a loss in Weibo, you have until August 28, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll-Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE: Levi & Korsinsky, LLP