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CORRECTING and REPLACING Hagens Berman Reminds Yahoo Investors of August 5 Deadline in Lawsuit

^{Published on 2011-07-27 14:50:54 - Market Wire}
 

BERKELEY, Calif.--([ BUSINESS WIRE ])--In headline and first graph of release dated July 26, 2011, the date should read: August 5 (sted August 8).

The corrected release reads:

HAGENS BERMAN REMINDS YAHOO INVESTORS OF AUGUST 5 DEADLINE IN LAWSUIT

Hagens Berman today reminded investors that they must move the court to be Lead Plaintiff by Aug. 5, 2011, in the class action involving Yahooa™s (NASDAQ:YHOO) failure to disclose the transfer of Alipay in its April 19, 2011, quarterly earnings announcement.

Investors who purchased Yahooa™s common stock between the dates of April 19, 2011, and March 13, 2011 (the aclass perioda), may contact Partner Reed R. Kathrein, at [ Yahoo@hbsslaw.com ] or by phone at 510-725-3000 for a consultation. Additional information is also available at [ www.hbsslaw.com/yahoo ].

A lawsuit has been filed in the United States District Court for the Northern District of California, based upon Yahooa™s inexplicable failure in its April 19, 2011, quarterly earnings announcement to reveal that Alibaba, a company in which Yahoo had purchased a 43 percent share in 2005, had shifted its e-commerce system, Alipay, to another private company without Yahooa™s authorization. Yahoo has revealed that it was informed by March 31, 2011, of the transfer of Alipay. Yet, the company did not inform its investors of the change until on or about May 13, 2011.

Yahoo stock traded for as much as $18.64 during the class period, and has since traded as low as $13.94.

About Investor Fraud Practice

Hagens Berman is a nationally recognized investor-rights law firm that provides highly acclaimed fraud recovery and asset protection services to individual and institutional investors. For an in-depth discussion of securities fraud, corporate governance and investor rights, please visit our [ Investor Fraud website ] or our [ Meaningful Disclosure ] blog.

About Hagens Berman

Seattle-based Hagens Berman Sobol Shapiro LLP is one of the top class-action law firms in the nation, with offices in Boston, Chicago, Colorado Springs, Los Angeles, Minneapolis, New York, Phoenix, San Francisco and Washington, D.C. Founded in 1993, we represent plaintiffs in class actions and multi-state, large-scale litigation that seek to protect the rights of investors, consumers, workers and whistleblowers. More information about the firm is available at [ www.hbsslaw.com ].