WebMD Ducks Investor Class Action Over Faulty Financials

Law360, New York (January 2, 2013, 7:37 PM EST) -- A New York federal judge on Wednesday tossed a consolidated class action accusing WebMD Health Corp. of hiding its deteriorating financial outlook from investors, saying the plaintiffs haven't shown the company knowingly made false or misleading statements about its finances.

Lead plaintiffs Wayne County Employees’ Retirement System and Carpenters Pension Trust Fund-Detroit and Vicinity alleged WebMD, former CEO Wayne Gattinella, current Chief Financial Officer Anthony Vuolo and Chairman Martin Wygod defrauded investors by releasing revenue forecasts they knew were inflated, then let the truth about the...
To view the full article, register now.




Case Information

Case Title

In re WebMD Health Corp. Securities Litigation

Case Number



New York Southern

Nature of Suit



John F. Keenan

Date Filed

August 2, 2011

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.