Thieler Law Corp advises investors with losses exceeding $100,000 of the August 28, 2017 lead plaintiff deadline in a class action lawsuit filed against Weibo Corporation (NASDAQ: WB) (“Weibo” or “the Company”). The suit is pending in the U.S. District Court for the District of New Jersey and investors, who purchased Weibo Corporation securities between April 27, 2017 and June 22, 2017, have until August 28, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Weibo Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Weibo lacks a requisite internet audio/video program transmission license; Weibo was posting certain commentary programs with content in violation of Chinese government regulations on its site; and  as a result, Defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On June 22, 2017, the Company revealed receipt of a notice from The State Administration of Press, Publication, Radio, Film and Television of the People’s Republic of China (the “SAPPRFT”). The notice requests that local authorities “take measures to suspend several companies’ video and audio services due to their lacking of an internet audio/video program transmission license and posting of certain commentary programs with content in violation of government regulations on their sites.”

On this news, NASDAQ: WB fell more than 9% on intraday trading on June 22, 2017.

If you were negatively impacted by your investment in Weibo Corporation securities between April 27, 2017 and June 22, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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