STEVENSON, Md., Aug. 29, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Washington on behalf of purchasers of Expedia, Inc. ("Expedia" or the "Company") (Nasdaq:EXPE) common stock during the period between July 27, 2012 and July 25, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Expedia, Inc. common stock purchased on or after July 27, 2012, and held through the revelation of negative information on July 25, 2013, as described below, at no cost to you, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than October 28, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that TripAdvisor's directing web traffic to Expedia following Expedia's spin-off of TripAdvisor pursuant to an informal strategic partnership between the two companies that was a material source of Expedia's outsized revenues would stop in early 2013 and that performance at the Company's Hotwire unit was failing. According to the complaint, following the Company's July 25, 2013 disclosure that its profits for the second quarter of 2013 were significantly less than profits for the second quarter of 2012 and that the Company was lowering its guidance for 2013 adjusted earnings, the value of Expedia shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 email@example.comSource: Brower Piven, A Professional Corporation