IMPORTANT INVESTOR REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Sogou Inc. & Encourag...
January 11 2019 - 12:08PM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces the filing of a class action lawsuit against Sogou
Inc. (“Sogou” or “the Company”) (NYSE: SOGO) for violations of
§§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule
10b-5 promulgated thereunder by the U.S. Securities and Exchange
Commission.
Investors who purchased the Company’s shares pursuant to and/or
traceable to Sogou’s Initial Public Offering (“IPO”) on November 9,
2017, are encouraged to contact the firm before March 11, 2019.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite
404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights
free of charge. You can also reach us through the firm's website
at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, the Company made false and
misleading statements to the market. Sogou was the subject of
investigations by Chinese authorities based in part on the
prevalence of counterfeit merchandise sold on the Company’s
platform. At the same time, the Company’s cost of revenues was
soaring due to massive increases in the cost of traffic
acquisition. Sogou planned to alter its strategy to push AI as a
competitive advantage, which led the Company to plan to phase out
hardware products that were not AI-enabled. This transition would
contribute to lower hardware revenues in the second half of 2018.
Based on these facts, the Company public statements and IPO
materials were false and materially misleading throughout the IPO
period. When the market learned the truth about Sogou, investors
suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
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version on businesswire.com: https://www.businesswire.com/news/home/20190111005368/en/
The Schall Law FirmBrian Schall, Esq.,Sherin Mahdavian,
Esq.,www.schallfirm.comOffice: 310-301-3335Cell:
424-303-1964info@schallfirm.com
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