NEW YORK, March 20, 2015 /PRNewswire/ -- Bernstein Liebhard
LLP is investigating whether Youku Tudou Inc. ("Youku Todou" or the
"Company") (NYSE: YOKU) issued materially false and misleading
statements to investors in violation of the federal securities
laws.
Youku Tudou is China's leading
online television company. On Tuesday,
March 17, 2015, the Company announced that it would release
its fourth quarter results on Thursday,
March 19, 2015, raising red flags by giving investors only
two days notice to prepare for Youku Tudou's earnings
announcement.
On March 19, the red flags became
a reality as the Company reported a net loss of $51.3 million, compared to $4 million in the same quarter of
2013. Moreover, Youku Tudou disclosed that the SEC is
investigating certain aspects of the Company's past accounting
relating to revenue recognition for multi-part deals, accounting of
"non-monetary exchanges of licensed content" and the classification
of licensed content as long-lived assets. The Company also
announced that it is now "evaluating the impact to its 2014 and
historical financial statements."
In reaction to this news, Youku Tudou's stock price dropped
nearly 9%, from a March 19, 2015
closing price of $15.62 per share to
$13.76 in intra-day trading on
March 20, 2015.
If you invested in Youku Tudou and lost money, are interested in
discussing your rights, and/or have information relating to the
matter, please contact Joseph R. Seidman,
Jr. at (877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3 billion for its clients. The
National Law Journal has recognized Bernstein Liebhard for
twelve consecutive years as one of the top plaintiffs' firms in the
country.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2015 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
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SOURCE Bernstein Liebhard LLP