|By Marketwired .||
|June 13, 2014 09:24 PM EDT||
NEW YORK, NY -- (Marketwired) -- 06/13/14 -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Blucora, Inc. ("Blucora" or the "Company") (NASDAQ: BCOR) of the July 14, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Blucora and certain executives.
A complaint has been filed in the Western District of Washington on behalf of all persons who purchased Blucora securities between November 5, 2013 and February 20, 2014 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
The complaint further alleges that throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Blucora's main web properties were tied to malware, viruses and browser hijackers that attack computers; (2) Blucora's search volumes had been boosted due to a rise in illicit search traffic; (3) a significant portion of the Company's traffic was derived from malware, illicit traffic, pirated content and/or click fraud, including, involuntary clicks, artificial clicks and illicit clicks; and (4) that the Company's relationship with Google was impaired and that Google was unlikely to renew its contract with the Company on the same terms as its prior agreement.
On February 18, 2014, Gotham City Research LLC published a research report on the financial website Seeking Alpha entitled "Blucora (i.e. Infospace): Worse Than Blinkx Plc & Babylon Ltd." The report alleged that, among other things: (i) "60% of Blucora's revenue will evaporate in coming quarters, as Google realizes it is better off without Blucora"; (ii) "at least 50% of Blucora's traffic is derived from malware, click fraud, illicit traffic (e.g. child pornography), and otherwise suspect traffic"; and (iii) the Company is likely to receive scrutiny from Google, Inc. - one of Blucora's major customers - as well as advertisers, and regulatory agencies.
After the Gotham City report revealed Blucora's material misstatements and omissions to the market, shares of Blucora declined $2.00 per share, over 8%, to close at $21.70 per share on February 18, 2014, on unusually heavy volume.
After the market closed on February 20, 2014, the Company filed a Current Report on Form 8-K announcing that InfoSpace had only partially renewed its Google Services Agreement with Google. The Company disclosed that under the new agreement, InfoSpace will continue to display ads provided by Google's AdSense for Search for search traffic that originates from desktops and laptops, but will no longer display those ads for search traffic that originates from mobile and tablet devices.
On this news, shares of Blucora declined $1.77 per share, over 8%, to close at $19.80 per share on February 21, 2014, on unusually heavy volume.
Request more information now by clicking here: www.faruqilaw.com/BCOR. There is no cost or obligation to you.
If you invested in Blucora stock, bonds or options between November 5, 2013 and February 20, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/BCOR. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Blucora's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Oct. 1, 2016 01:15 AM EDT Reads: 3,040
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Oct. 1, 2016 01:15 AM EDT Reads: 716
Oct. 1, 2016 12:15 AM EDT Reads: 1,423
Sep. 30, 2016 11:45 PM EDT Reads: 5,439
Sep. 30, 2016 11:30 PM EDT Reads: 759
Sep. 30, 2016 11:30 PM EDT Reads: 488
Sep. 30, 2016 10:45 PM EDT Reads: 507
Sep. 30, 2016 10:45 PM EDT Reads: 1,538
Sep. 30, 2016 10:00 PM EDT Reads: 1,262
Sep. 30, 2016 09:45 PM EDT Reads: 2,848
Sep. 30, 2016 09:30 PM EDT Reads: 4,121
Sep. 30, 2016 09:00 PM EDT Reads: 2,834
Sep. 30, 2016 09:00 PM EDT Reads: 4,062
Sep. 30, 2016 08:45 PM EDT Reads: 497
Sep. 30, 2016 08:30 PM EDT Reads: 3,199