YELP.US
id: 328
The settlement funds have been distributed to claimants.
$22,250,000
Cash SettlementN.D. California
Court02/10/2017
Class period Start05/09/2017
Class period End12/27/2022
Claim deadlineJonathan Davis, et al. v. Yelp, Inc., et al.
Yelp agreed to pay $22.25 million to settle a securities class action lawsuit accusing the Company and its Leaders of multiple suspected felonies.
The complaint alleged that the Company misled Yelp investors regarding the retention rates for existing customers, as well as revenues and growth rates for the Company’s new customers, and furthermore that Yelp's CEO personally benefited from withholding such information by selling over $25,000,000 worth of Yelp shares (approximately 20% of his Yelp holdings) while allegedly in possession of material nonpublic information regarding Yelp’s poor financial results.
Yelp agreed to settle with investors to avoid further litigation.
Case Status
Disbursed
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Jonathan Davis
Attorneys
Glancy Prongay & Murray LLP (Los Angeles) Holzer & Holzer, LLC
Judge
Hon. Edward M. Chen
Administrator
JND Legal Administration
Court hearing date
01/19/2023
Trades matching type
FIFO