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New Federal Securities Cases

Weibo Corporation

A class action lawsuit has been filed in the United States District Court for the District of New Jersey against Weibo Corporation (NASDAQ: WB) ("Weibo" or the "Company"), on behalf of a class of investors who purchased or otherwise acquired Weibo securities during the period from April 27, 2017 through June 22, 2017 (the "Class Period"). The lawsuit seeks to recover damages for Weibo investors under the federal securities laws.

According to the lawsuit, throughout the Class Period Defendants failed to disclose that: (1) Weibo lacks a requisite internet audio/video program transmission license; and (2) Weibo was posting certain commentary programs with content in violation of Chinese government regulations on its site.

On June 22, 2017, The Wall Street Journal reported that China's State Administration of Press, Publication, Radio, Film and Television ordered Weibo to stop streaming political videos that were not in line with government regulations. The websites of Weibo Corp., Phoenix New Media Ltd, and ACFUN, had streamed political videos that were not in line with government regulations, and also promoted talk shows that contained negative viewpoints. On this news, shares fell from $76.96 to $72.25 per share, damaging investors.

If you acquired Weibo securities during the Class Period, you may, no later than August 28, 2017, request that the court appoint you lead plaintiff of the proposed class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.

If you are a current or former Weibo shareholder and wish to obtain additional information, please fill out the contact form at the link below.


Investigation Contact Form

Weibo Corporation Contact Form


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