EQUITY ALERT: The Rosen Law Firm Announces Investigation of Securities Claims Against Youku Tudou Inc. – YOKU
March 23 2015 - 6:45PM
Business Wire
The Rosen Law Firm, P.A., a global investor rights law firm,
announces it is investigating potential securities claims on behalf
of investors of Youku Tudou Inc. (NYSE:YOKU) resulting from
allegations that Youku Tudou may have issued materially misleading
business information to the investing public.
On March 19, 2015, Youku Tudou announced that it received and
responded to comments and queries from the U.S. Securities and
Exchange Commission (the “SEC”) related to certain accounting
treatment adopted by the Company in its historical financial
statements stemming from the SEC’s review of the Company’s annual
report on Form 20-F for the fiscal year ended December 31, 2013.
The accounting issues include: (i) revenue recognition for
multi-element arrangements; (ii) accounting for nonmonetary
exchanges of licensed content; and (iii) application of ASC 920.
Furthermore, Youku Tudou stated that it is evaluating the potential
impact from the resolution of these accounting issues to its 2014
and historical financial statements. On this news, shares of Youku
Tudou fell $1.65 per share or over 10% to close at $13.50 per share
on March 20, 2015.
The Rosen Law Firm is preparing a class action lawsuit to
recover losses suffered by Youku Tudou investors. If you purchased
shares of Youku Tudou before March 20, 2015, please visit the
website at http://rosenlegal.com/cases-555.html for more
information. You may also contact Phillip Kim, Esq. or Kevin Chan,
Esq. of The Rosen Law Firm toll free at 866-767-3653 or via email
at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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