CASES
WebMD Health Corp.
Class Period: Feb 22, 2011 to Jul 15, 2011
Lead Plaintiff Deadline: Oct 3, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against WebMD Health Corp. ("WebMD" or the "Company") on behalf of all persons who purchased the common stock of WebMD between February 23, 2011 to July 15, 2011. This case has been filed in the USDC - New York (Southern).
The Complaint alleges that, during the Class Period, Defendants issued materially false and misleading statements regarding the Company's business and prospects. Specifically, Defendants misrepresented and/or failed to disclose the following adverse facts: (i) that WebMD was experiencing sponsorship cancellations due to extended legal and regulatory reviews; (ii) that WebMD's customers, including several consumer product companies, were delaying advertising on the Company's website as a result of smaller advertising budgets; and (iii) as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
On July 18, 2011, WebMD announced its preliminary second quarter financial results and lowered its financial guidance for 2011. In reaction to the Company's announcement, the price of WebMD stock fell $14.01 per share, or 30%, to close at $32.48 per share, on extremely heavy trading volume.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.