Securities Law Claims Against Yelp Trimmed, But Suit Allowed To Proceed

(November 30, 2018, 1:33 PM EST) -- SAN FRANCISCO — Although certain statements made by online business review platform Yelp Inc. and certain of its senior executives were mere puffery and thus, not actionable, shareholders have sufficiently shown that the others were materially false and misleading to support their claims that the defendants violated federal securities laws in stating its expected revenues for fiscal year 2017 in violation of federal securities laws, a federal judge in California ruled Nov. 27 in granting in part and denying in part a motion to dismiss (Roei Azar, et al. v. Yelp Inc., et al., No. 18-0400, N.D. Calif., 2018 U.S. Dist. LEXIS 200769)....

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