Yelp Gets Partial Toss Of Investor Suit Over Biz Retention
Law360 (November 28, 2018, 5:30 PM EST) -- A California federal judge partially tossed a proposed investor class action against Yelp Inc. on Tuesday, finding that some of the crowd-sourced review site’s allegedly misleading statements about its advertising program with local businesses were forward-looking while others may have been made to conceal the program’s retention problems.
U.S. District Judge Edward M. Chen said that optimistic future growth projections disclosed to investors in February 2017 were accompanied by cautionary language about uncertainties that could affect Yelp’s financial performance, and fell under the safe-harbor provision for securities litigation.
That said, the judge continued, two direct statements made by Chief Operating Officer...
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