NEW YORK, March 20, 2015 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of Youku Tudou Inc.
("Youku" or the "Company") (NYSE: YOKU). Such investors are
advised to contact Robert S.
Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.
237.
The investigation concerns whether Youku and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On March 19, 2014, Youku announced
that "as a result of the routine review by the Securities and
Exchange Commission (the "Commission") of the Company's annual
report on Form 20-F for the fiscal year ended December 31, 2013 ("2013 20-F"), the Company
received, and responded to, comments and queries from the staff of
the Commission regarding certain accounting treatment adopted by
the Company in its historical financial statements." The
issues addressed relate to the Company's recognition of revenue,
among other matters.
On this news, shares of Youku fell $1.65 per share to $13.50, or more than 10.89%, in intra-day trading
on March 20, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San
Diego and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-youku-tudou-inc--yoku-300053914.html
SOURCE Pomerantz LLP