NEW YORK, Aug. 30, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Washington on behalf of investors who purchased Expedia, Inc. ("Expedia" or the "Company") (Nasdaq:EXPE) common stock between July 27, 2012 and July 25, 2013.
For more information, click here: http://zlk.9nl.com/expedia-inc-expe/.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (a) following the spin-off of TripAdvisor into a separate publicly-traded company, TripAdvisor had been directing a significant amount of web traffic to Expedia pursuant to an informal strategic partnership between the two companies and to the detriment of TripAdvisor; (b) that the traffic directed to Expedia from TripAdvisor had been a material source of Expedia's outsized revenues following the spin-off; (c) that TripAdvisor would stop directing web traffic to Expedia in early 2013; and (d) that performance at the Company's Hotwire unit was failing.
On July 25, 2013, Expedia announced its second quarter 2013 financial results for the quarter ended June 30, 2013, noting a profit drop from $105.2 million the previous year to $71.5 million. Upon this news shares of Expedia fell from a close of $65.00 per share on July 25, 2013, to a close of $47.20 per share the following day.
If you suffered a loss in Expedia you have until October 28, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/expedia-inc-expe/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP