On or around 06/07/2018 (Court's order of dismissal)
Filing Date: June 27, 2017
According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants 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, Defendants’ public statements were materially false and misleading at all relevant times When the true details entered the market, the lawsuit claims that investors suffered damages.
On September 28, 2017, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a Consolidated Complaint on November 27. Defendants filed a Motion to Dismiss the consolidated Complaint on January 26, 2018. On June 7, the Court issued an Order granting Defendants' Motion to Dismiss.
Company & Securities Information
Defendant: Weibo Corporation
Industry: Software & Programming
Ticker Symbol: WB
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Andrew Goldsmith, et al. v. Weibo Corporation, et al.